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2 minute read
Digital Pricing Strategy: Capturing Value from Digital Innovations
Book Authors: Stephan M.Liouz and Andreas Hinterhuber
Digital pricing strategy provides a best-practice overview of how companies design, analyze, and execute digital pricing strategies. Stephan and Andreas bring together insights from academic and professional experts globally, the text covers essential areas of the value and pricing of data, platform pricing, pricing of subscriptions, and monetization of the global environment. This is a “must read” book for the C-level and executives as not only is there theory but best practices to provide practical considerations for C-levels and executives who are going through digital transformation and how to drive it successfully.
The book is structured cohesively and thematically including - 25 chapters split into 5 sections, it provides the readers with an introduction to critical areas of digital transformation: pricing of data, subscription-based pricing, pricing in platforms and marketplaces, AI pricing, and digital pricing. While bringing together the knowledge of leading experts in highly relevant areas such as value-based pricing, the value of data, and artificial intelligence in pricing.
Motivation for the book
The business world is no stranger to digital transformations and innovations but what seems to be neglected is the value in understanding pricing concepts within a digital transformation. This book surfaced to help connect digital strategies with pricing strategies and to introduce theories with best practices using pricing science. This book offers those in the pricing community an opportunity to get creative in digital transformation and for this book to be a source to communicate new concepts, new methods, and new theories. Although these concepts are often not new to many pricing experts reading this book helps reinforce that digital innovations and data-driven opportunities need to be monetized and priced in the right way. Without a value mindset, data analytics and AI are nothing.
Conclusion
This is a well-rounded book and provides great insight from thought leaders on all the digital pricing challenges your organization could face going through a digital transformation. The book will provide a blueprint for your team to drive success between pricing and digital strategies. A must-read to help with the times ahead given the current growth of digital and AI.
Happy Reading!
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ABOUT THE AUTHORS:
Stephan M. Liozu is the founder of Value Innoruption Advisors, a consulting boutique specializing in value-based pricing, monetization strategies, and digital pricing. Stephan sits on the Advisory Board of LeveragePoint Innovation and the Professional Pricing Society. He is the author of multiple books about pricing, including Pricing and Human Capital (2015), and co-editor of Innovation in Pricing (2012), The ROI of Pricing (2014), and Pricing and the Sales Force (2015).
Andreas Hinterhuber is an associate professor at the Department of Management at Università Ca' Foscari Venezia, Italy, and is an equity partner at Hinterhuber & Partners, a consulting company specializing in pricing based in Innsbruck, Austria. He has published articles in leading journals including the Journal of Business Research and MIT Sloan Management Review, and has edited many books on pricing, including Innovation in Pricing (2012), The ROI of Pricing (2014), Pricing and the Sales Force (2016), and Value First then Price (2017).
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