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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.

Reviews and Discussions to the third edition

Review to the textbook “Price Management“ in Harvard Business Manager

“The standard work for Pricing was fully revised and provides numerous life case studies. It contains a chapter of basics and describes analysis, decision making and implementation of price strategies as well as specifics throughout different industries in the remaining 12 chapters.“

A review to the textbook “Price Management“ was published in the April 2010 edition of the Harvard Business Manager.

Please click here to access the review.


Review to the textbook “Price Management“ in “Die Betriebswirtschaft“ (DBW)

“The textbook by Simon/Fassnacht is now available in the third edition. The authors point out, that since the release of the second edition a revolutionary development in Price Management emerged [...]. By that, they outline the fundamental positioning of the textbook, which is reflected in a consequent process perspective. The explications are not only limited to the pricing decision in the narrower sense, but rather examine the whole process from strategy, analysis and decision making to implementation of respective measures.“

In the 02/2010 edition of "Die Betriebswirtschaft" (DBW) a review to the textbook “Price Management“ was published.

Please click here to access the review.


Review to the textbook “Price Management“ in “Zeitschrift für Betriebswirtschaft“ (ZfB)

“The textbook imparts the practician a canon of measures, which are explained in detail in interesting case studies. The student gets an overview of price management, the relevant behavioral scientific and economic theories as well as a wide range of price calculations. The scientist receives a reference book, which provides information to numerous price-political questions (and answers on it) as well as suggestions for various research projects. I congratulate the authors for this successful work and whish a prosperous resonance on the market.”

A review to the textbook “Price Management“ was published in the November 2009 edition of “Zeitschrift für Betriebswirtschaft (ZfB)“ by Prof. Dr. Andreas Herrmann from University of St. Gallen.

Please click here to access the review.


Review to the textbook “Price Management“ in “Zeitschrift Führung+Organisation“

“Overall, it is a monography in Price Management, which provides diverse worthwhile starting points to the management. With aid of the propagated pricing process, an excellent common theme is ensured. The demand for an establishment of the pricing process along with other value-adding and supporting processes within the company is of high interest, as by this, a stringent implementation of the profit target can be guaranteed.“

In the 06/2009 edition of "Zeitschrift Führung+Organisation" (zfo) a review to the textbook “Price Management“ was published.

Please click here to access the review.


Review to the textbook “Price Management“ in “Marketing Review St. Gallen”

“Prof. Dr. Hermann Simon and Prof. Dr. Martin Fassnacht manage in an impressive manner to convey the theory of profound price setting and to transfer the theoretical concepts into practice. The textbook “Price Management“ represents a comprehensive work to all dimensions of Price Management and therefore is considered as the standard work for pricing.“

In the 05/2009 edition of the professional journal “Marketing Review St.Gallen“ a review to the third edition of the textbook “Price Management“ by Prof. Dr. Hermann Simon and Prof. Dr. Martin Fassnacht was published.

Please click hier to access the review.


Review to the textbook “Price Management“ in "Zeitschrift für betriebswirtschaftliche Forschung"

In the May 2009 edition of "Zeitschrift für betriebswirtschaftliche Forschung" (zfbf) Dr. Stephan Zielke from Georg-August-University in Göttingen published a review to the textbook “Price Management“ by Prof. Dr. Dres. h.c. Hermann Simon and Prof. Dr. Martin Fassnacht.

Please click here to access the review.