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2 minute read
Pricing - The New CEO Imperative
Author: Stephan M. Liozu.
Pricing - The New CEO Imperative by Stephan M. Liozu dives into the vital role that pricing plays in shaping business strategy. It’s thoughtfully divided into five sections and 21 chapters, each crafted to help CEOs and C-suite executives grasp the strategic importance of pricing. Liozu makes a compelling case for how well-managed pricing can enhance competitive advantage and profitability, particularly in today's fast-evolving market landscape. What really sets this book apart is the wealth of insights contributed by top consulting firms and endorsements from professional pricing organizations, providing a rich and diverse perspective on pricing.
Main insights:
Pricing Lessons and Myths: This section clears up common pricing misconceptions and highlights key lessons from various industries. The main takeaway is to understand customer value and avoid price wars, which can damage profit margins.
Pricing Impact and Pricing Power: The author discusses how effective pricing strategies can significantly improve a company's profits. He emphasizes the importance of pricing power for competitive advantage and using data to improve pricing decisions.
Pricing Testimonials: This section uses real-world case studies to show the benefits of advanced pricing strategies, providing practical insights and evidence of the positive outcomes of effective pricing.
Pricing Maturity and Capabilities: Liozu outlines the stages of developing pricing expertise and the capabilities needed at each stage. He stresses the importance of continuous improvement and investment in pricing infrastructure.
Pricing as a Force of Transformation: The final section explores how strategic pricing can transform organizations, particularly through digital innovations, driving growth and fostering long-term success.
Here at PriceBeam, we enjoyed reading this book and appreciated its reinforcement of the importance of data-driven pricing decisions, which aligns perfectly with our mission. In a podcast interview (Zilliant), Liozu expressed his excitement about the growing investment in pricing technologies. He noted that major consulting firms like McKinsey, Accenture, and Deloitte have emphasized the critical role of pricing in the new normal, especially in eCommerce and subscription models.
He anticipated a surge in pricing technology adoption, driven by the need to manage frequent price changes. This perspective aligns perfectly with PriceBeam’s approach, as we use data-focused methods, just like Liozu suggests, to help you manage and optimize your pricing strategies.
Conclusion
This book is a must-read for executives looking to harness the power of strategic pricing. It provides a clear breakdown of myths, impact, real-world applications, and the transformational potential of pricing strategies provides a comprehensive guide for enhancing profitability and competitive advantage through data-driven pricing decisions.
Happy Reading!
Price Beam.
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ABOUT THE AUTHOR:
Stephan M. Liozu:
He is an expert in pricing and customer value management with over 20 years of experience. He holds a PhD in Management and has authored numerous books and articles on pricing. Liozu is a prominent speaker at industry conferences and a strong advocate for the strategic role of pricing in business success. His extensive knowledge and experience make him a leading voice in the field of pricing.
