Stephan M. Liozu

The Pricing Journey

The Organizational Transformation Toward Pricing Excellence

• Gebundenes Buch

Produktbeschreibung

In The Pricing Journey, Stephan M. Liozu provides an integrated guide to the organizational, social, and behavioral dimensions of pricing. He equips readers with the practical roadmap that they need to transform their pricing culture, drive firm performance, and achieve pricing excellence.

Produktdetails

• Verlag: Stanford University Press
• New ed
• Seitenzahl: 277
• Erscheinungstermin: 29. April 2015
• Englisch
• Abmessung: 236mm x 154mm x 25mm
• Gewicht: 486g
• ISBN-13: 9780804788748
• ISBN-10: 080478874X
• Artikelnr.: 41749191

Autorenporträt

Stephan M. Liozu is Founder of Value Innoruption Advisors. He teaches at Case Western Reserve University's Weatherhead School of Management, where he draws on over 20 years of global business experience to introduce disruptive approaches to strategy, innovation, and value management.

Inhaltsangabe

Contents and Abstracts
0Introduction
chapter abstract
This introductory chapter makes the case for a different look at the
pricing function, the pricing discipline, and how pricing is deployed in
organizations. Pricing tends to be a technical and scientific discipline
that is often deployed in organizations without proper attention being paid
to the social and organizational implications. Pricing transformations are
hard and often fail because of that. The introduction lays the foundation
for the need for a different approach to pricing transformations.
1What is Pricing Excellence?
chapter abstract
This chapter discusses the concept of pricing excellence as the end goal
for any company wishing to improve their pricing power. It introduces two
critical dimensions of pricing excellence: pricing orientation and pricing
realization. Both dimensions of pricing need to be managed intentionally to
ensure success in price setting and price setting. This chapter describes
the pricing capability grid and the five zones within the grid. Firms that
embark on a pricing journey towards pricing excellence have to pay close
attention to pricing orientation and pricing realization levels, as well as
the path they take in order to eventually reach pricing excellence.
2The Transformational Journey
chapter abstract
This chapter discusses the concept of pricing maturity as well as describes
the concept of a pricing journey. Reaching pricing excellence is a journey
requiring deep and sometimes tenuous change. This chapter introduces a
structured five-stage transformational model derived through academic
research and proven with dozens of pricing case studies. It also provides
the initial description of the 5C transformational model developed over the
last five years and applied to several real-life transformational projects.
3Champions Lead the Organizational Mobilization
chapter abstract
This chapter discusses how top leaders in firms can strongly positively or
negatively influence the success of a pricing transformation. Research
shows that the role of the CEO and the C-suite is critical in supporting
the troops and in leading by example. This chapter describes the difference
between a CEO's involvement in pricing and a CEO's championing of a pricing
transformation. It proposes specific behaviors that CEO and members of the
C-suite can display to generate collective confidence and create buy-in
across the entire organization.
4Center-led Pricing Management: A hybrid Organizational Architecture for
Pricing
chapter abstract
This chapter addresses the topic of organizational design for pricing. It
reviews the various options to set up a pricing function within an
organization: centralized, decentralized, center-supported, and center-led.
This chapters offers the pluses and minuses of each option but focuses on
the center-led management design and the specific roles of pricing teams.
Finally this chapter proposes that the combination of a center-led pricing
team and a pricing council structure is the optimal organizational
architecture for pricing.
5Capabilities: Social and Technical Assets and Activities
chapter abstract
This chapter covers critical concepts and definitions of what pricing
capabilities are in practice. Drawing from various bodies of literature,
the author makes a distinction between pricing dimensions, pricing
resources, and pricing activities. Both tangible and intangible
capabilities are necessary to make sure pricing changes are adopted and
assimilated. Based on the work from pricing scholars, the author introduces
the concept of socio-technical change related to pricing capabilities and
how these positively influence firm performance.
6Change Capacity: A Progressive Internalization
chapter abstract
70% of project fails. And they fail because of a lack of focus on true
change management science. This chapter review concepts of change
management and organizational change capacity using the pricing lens. The
results of a survey on change management in pricing are presented and
discussed. Finally this chapter presents the key change factors that are
important to any pricing transformation as well as introduces a
transformational framework composed of ten dimensions of change in pricing.
7Confidence: the Fuel of the Organizational Transformation
chapter abstract
Changing requires courage and confidence. Transforming organizations
requires self-esteem and confidence at the collective level. This chapter
covers the concept of organizational confidence in pricing. Drawing from
multiple research studies, it proposes a collection of programs that can
used to build collective self-esteem and confidence in teams so that they
can jump on board the change train. These programs can easily be deployed
across the organization to create buy-in and solidarity among the various
functions that might be impacted by the pricing transformation.
8Possible Roadblocks Along the Journey
chapter abstract
Pricing transformation can take anywhere from 4 to 10 years. That is a long
journey and many things can go wrong along the way. This chapter proposes
the 12 most common roadblocks business and pricing teams can face when
conducting transformational activities. It also offers some practical tips
on how to handle and respond to each of these roadblocks.
9Pricing Myths at the Organizational Level
chapter abstract
There are many myths affecting the organizational perceptions about
pricing. Pricing professionals need to be aware of these myths and need to
be able to combat them when they design and implement pricing programs.
This chapter lists some of the most common pricing myths at the
organizational level and offers some tips on how to change perceptions of
pricing within their organization including with top leaders.
10Pricing Skills to Face Complexity and Dynamic Environments
chapter abstract
The pricing discipline has come a long way over the past few decades. The
science and discipline of pricing are also changing requiring pricing
professionals to learn new skills. With the emergence of big data and
pricing technologies, the role of pricers in the future will require a
balance of technical and social skills. This chapter offers more details on
how pricing skills are affected and how important it is for pricing
professionals to define a learning agenda. It addresses the complexity of
pricing and the dynamic nature of pricing science.
11Closing Thoughts
chapter abstract
This last chapter proposes integrative findings from the entire book and
how it affect the potential success of pricing transformations. A case
study is presented on how the 5C model was used to successfully transform a
mid-sized company's pricing orientation. This chapter makes the case for
change and proposes a manifesto for change-driven pricing. Finally the
chapter calls on the pricing profession to wake up and start their own
transformational journey.