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09.12.2019│Göttingen – Fielmann Pricing Strategy: The Introduction of a New Pricing System
The fact that pricing in retail is a delicate task is evident given the high, internet-induced price transparency in some segments. And when a company like Fielmann advertises with the slogan “Glasses … Fielmann” to be perceived as a price leader, it is all the more exciting to find out how a new pricing system in retail can be introduced. The question arises as to what resources are required for this and what objectives are associated with it.
Andreas Stauber, Head of Pricing at Fielmann AG, presents the pricing project he is responsible for at the invitation of Professor Riekhof. In his lecture “The Introduction of a New Pricing System in Retail: Objectives, Resource Requirements and Project Management”, he demonstrates how the implementation can succeed. He has gained profound pricing experience, among other things, during his work for Media-Saturn.
Lecture:
“The Introduction of a New Pricing System in Retail: Objectives, Resource Requirements and Project Management”
– Andreas Stauber, Fielmann AG, Head of Pricing
Location:
PFH Private University of Göttingen
Weender Landstraße 3-7
37073 Göttingen
Date/Time:
Mon, 09.12.2019, 18:00 – 19.30 hrs
The PFH is pleased to welcome interested parties this evening, external guests are welcome. The event is free of charge. Registration is required, please by email to Wieschollek@nullpfh.de.
Discover more exciting marketing lectures in the PFH semester program
Locationinsider: Locandis introduces new Beacons
Dissatisfaction with the solutions currently on the market has led the company Locandis from Göttingen to develop its own Beacons. These are also optimally adapted to the company’s own backend. This topic was now picked up by Locationinsider, the online magazine for digital change.
The magazine continues to write: Locandis’ customers include Peek&Cloppenburg among others. For its customers, the company has implemented projects in the field of Location Based Services. Via Beacons, customers in the store are sent coupons and product-related content to their smartphones. This is intended to increase attention and directly set purchase impulses. A dialogue with the customer is achieved in the form of the digital customer card developed by Locandis.
So far, the Beacons available on the market have been used for the projects. But the company was dissatisfied with their performance and therefore had Beacons manufactured according to its own specifications. These are characterized by an optimized antenna layout, which allows a more precise signal transmission. Especially larger Beacon networks benefit from the comprehensive illumination for a more precise in-store navigation.
The Beacons are BLE (Bluetooth Low Energy) compliant and support the Apple iBeacon protocol. Since the Beacons were also specified with regard to the company’s own backend, they automatically report there if the functionality should be limited or the battery status becomes critical. However, this should be rather rare, as the installed battery is supposed to last 5 years.
About Locationinsider
https://locationinsider.de/locandis-stellt-neue-beacons-vor/
Information about the company Locandis
www.locandis.de
GFM News: How much does the trade cost LBM campaigns?
It is now clear to many retailers that location-based marketing enables customers to be addressed directly and with high relevance. A survey now wanted to find out how much the retailers are willing to spend on it.
Thanks to mobile devices, customers can be reached almost anywhere. At the same time, the current location of the user can be determined via the devices – which offers marketing new opportunities for communication. According to studies, location-based advertising has a higher relevance compared to messages that are not related to the consumer’s location. For retailers, this channel is therefore of great interest. Dr. Hans-Christian Riekhof, Professor of International Marketing at the PFH Private University of Göttingen, now asked the question of how much the retailers are willing to pay for it.
The short survey shows that there is a high willingness to pay in the trade for push notifications on the customer’s smartphone. The retail decision-makers are therefore willing to accept an average thousand-contact price (TKP) of over 300 euros. According to the study, 44 percent of those surveyed are generally willing to pay a price of 0.11 to 0.50 cents per message.
If the recipients are preselected according to location-related criteria, this willingness increases. Then 56 percent can imagine paying between 0.11 and 0.50 euros per contact.
A TKP of up to 1,600 euros
If the providers of the push messages can prove that receiving a message leads to a visit to a store, the willingness to pay increases further. Almost one in three respondents would now even pay between 0.51 and 3.00 euros for a contact. This increases the average TKP to up to 510 euros. If a purchase can even be proven, the TKP increases to an average of 1,300 euros. The retailers would spend even more money if the message is played out in front of a competitor’s store and then leads to a purchase in their own store. According to the survey, the TKP here is 1,600 euros.
In addition, the trade shows itself willing to spend a certain proportion of the same for the campaigns for demonstrable effects on sales. On average, the respondents would invest 4 percent of their sales in LBM campaigns – if this demonstrably increases sales.
Conclusion
The study therefore shows that retailers are aware of the potential of location-based marketing campaigns. They underline this with their clear willingness to pay for corresponding campaigns.
The online survey was conducted from 15.06.2017 to 30.06.2017 among managers, managing directors and retail experts. The study authors emphasize that although the survey is not representative, it can be assumed that the results provide meaningful indications of the retailers’ willingness to pay due to the “high-caliber group of participants”.
Further studies by Prof. Riekhof on the subject of location-based marketing can be found at:
www.unicconsult.com/kompetenzen/location-based-marketing/
