What every manager should know about pricing

Purpose The purpose of this paper is to provide a theoretically rigorous and practically relevant summary research findings that enables managers drive sustainable profits improvements via pricing. It showcases multiple case studies demonstrate how companies can achieve higher-than-average profitability by implementing intelligent pricing strategies tactics. Design/methodology/approach Over the past 20 years, writer has conducted dozens academic surveys with exploring antecedents, moderators consequences practices for existing new products. analyzed all published in leading journals over decades. Finally, as equity partner Hinterhuber & Partners, consultancy ( www.hinterhuber.com ), – through collaborations workshops practicing collected data insights on best managing strategic activity. Findings Pricing most powerful driver superior profits, yet view only context innovation. This narrow prevents from realizing their full potential. Best practice examples well suggest based solid scientific principles helps average above-average results. presents review recent summarizes fundamental must master so becomes an enabler lasting performance. Research limitations/implications Academic surpasses managerial practice. Managers often rely outdated concepts when it comes strategy Practical implications framework allows implement improve Social Effective benefit companies, customers other stakeholders. Originality/value provides comprehensive overview latest thus documents solid, enable lasting, profitability.