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3rd Edition of Textbook "Price Management"

The 3rd edition of the classical textbook “Price Management”, which was written by Prof. Dr. Dr. h.c. mult. Hermann Simon and Prof. Dr. Martin Fassnacht and published in September 2008 by Gabler, is now completely revised and enlarged. “Price Management” addresses students as well as scientists and managers. In academic studies, price management takes an important role and also became a matter to the top management of companies. In particular, it belongs to the latter, because price is a driver for profits with outstanding importance - which applies to every industry.

The new edition outlines a consequent process perspective. Price Management should not be restricted to the pricing decision, it rather requires to consider the whole process from strategy to analysis, decision making and implementation.

Chapter 2 deals with important strategic parameters of Price Management. After considering the analysis stage from an economic and behavorial scientific view in chapter 3 and 4, the decision making process is portrayed in chapters 5 to 7. Hereby, one-dimensional, multidimensional and long term optimized prices are considered. The statements to the process perspective terminate with the phase of implementation in chapter 8.

Additionally, pricing problems and pricing behaviours differ between industries. Therefore, sectorial price management is explained in chapters 9 to 13. Moreover, typical specifics of pricing-processes for the industry sectors Services, Manufactured Goods, Commerce and Internet are reconsidered. The book concludes with a chapter referring to international price management.

With Dr. Josef Ackermann, Prof. Dr. Philip Kotler, Kasper Rorsted, Prof. Dr. Bernd Skiera and Dr. Wendelin Wiedeking, international well-known personalities from science and practice served as testimonials.

Prof. Dr. Dr. h.c. mult. Hermann Simon is chairman of Simon-Kucher & Partners where he was CEO until 2009. Until 1995, he was holder of the Management and Marketing Chair at the Johannes Gutenberg-University Mainz. He completed visiting professorships at different universities like Harvard Business School, Standford University and Keio University Tokio. Prof. Dr. Martin Fassnacht is holder of the Chair of Business Administration, particularly Marketing and Commerce (The Otto Beisheim Endowed Chair of Marketing and Commerce). 

“Price Management” disposes over 153 images and 81 charts on altogether 614 pages (ISBN 978-3-409-39142-9, 64,99 Euro).

"Preismanagement" wins Georg-Bergler-Prize 2010

The Georg Bergler Prize for Marketing which is endowed with 20,000 €, was awarded in Nuremberg on March 2, 2011. The prize which was awarded for the third time, went to Prof. Dr. Dres. h.c. Hermann Simon, Chairman of Simon-Kucher & Partners and Prof. Dr. Martin Fassnacht, Holder of the Chair of Marketing and Commerce at the WHU – Otto Beisheim School of Management for their book "Pre-ismanagement" (Price Management).

The price is awarded every two years by the absatzwirtschaft – Zeitschrift für Mar-keting, the Deutsche Marketing-Verband and the GfK Verein e.V. and honors the work of authors in the field of market-oriented corporate management, which describe scientific findings in a particularly clear, practical and pathbreaking way.

According to the jury, the book by Simon and Fassnacht is one of the most comprehensive books on the subject of price. The first edition of the book was published in 1982 under the sole authorship of Hermann Simon, and even then filled a large gap between theory and practice in this area. With the co-author Fassnacht, a complete revision of this classic was conducted in the award-winning third edition. Designed as a textbook for students, researchers and managers, the third edition follows a consistent process orientation of price management from strategy over analysis and decision to implementation.

The Georg-Bergler-Prize supports basic research in marketing and wants to make a contribution to the scientific research in this specific field. With 20,000 € it is the most highly endowed award for market management-oriented books in Europe.

In 1936, Prof. Dr. Georg Bergler (1900 - 1972) was appointed to the Executive Board of the first market research company, GfK, founded in 1934. After the war he sustainably reconstructed the GfK and since 1955 he decisively developed the company as CEO in postwar Germany. In addition, Georg Bergler was Associate Dean of the Hochschule für Wirtschafts- und Sozialwissenschaften in Nuremberg from 1946-1949 and between 1958 and 1960.