Hermann Simon, master of pricing, explains in Manager Magazine how to implement price adjustments in times of increasing inflation in order to get “ahead of the wave”. “More frequent small steps are possible, it is estimated that this can be done up to eight times a year. The leading tire manufacturer Michelin has already increased prices four times within a year and announced further increases. Those who wait have two disadvantages: First, the erosion of the profit margin. And then the greater resistance of customers, because the increase must be much stronger in the end.” – Price strategist Hermann Simon in “Getting ahead of the wave – how company bosses must react to inflation” in Manager Magazine, page 62, August 2022
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