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G N I C I PR E L Z PUZ

THE

ND A T S R E UND HOW TO REATE AND C ING C I R P FUL IMPACT PRODUCTS UR FOR YO

The Pricing Puzzle

Jan Y. Yang

The Pricing Puzzle How to Understand and Create Impactful Pricing for Your Products

Jan Y. Yang Simon-Kucher & Partners Cologne, Germany

ISBN 978-3-030-50776-3    ISBN 978-3-030-50777-0 (eBook) https://doi.org/10.1007/978-3-030-50777-0 © Springer Nature Switzerland AG 2020 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors, and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland

To my life companion and adoring wife Doreen for her unrelenting support and patience over all these years, to whom I am deeply indebted

Foreword

This book is a treasure trove of pricing tactics illustrated by real-life examples. And even more importantly, Jan Yang looks behind the scenes and offers his analysis on various pricing stories that he personally collected over the years. While observing the world through the lens of a pricing consultant, he puts himself in the shoes of business leaders and consumers in his pricing narratives. Business leaders should take pricing seriously, because price is undisputedly the most important driver of profit and enterprise value. Price management goes far beyond setting prices. Instead, price management should be seen as active value management. Common practices like cost-plus pricing or following the competition are ill-fated. In doing so, one effectively no longer takes part in the quest for excellence. Failure to act on the heterogeneity of customers leads to mediocrity, the fate of a price taker. Even more importantly, business leaders should take pricing seriously because of the net present value of pricing. The fact is that no matter how great a product is, it has a finite shelf