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How Ferrari increases its margins with consistent luxury pricing, explained by Andreas Neuhaus
/in Quotes/by Prof. Dr. Hans-Christian Riekhof28.11.2024 | Göttingen – “Xmas-Lectures” with Marketing Lectures
/in Unkategorisiert, Unkategorisiert/by Prof. Dr. Hans-Christian RiekhofAs already announced, we would like to take the opportunity to meet again at our Alma Mater in Göttingen this year. The traditional pre-Christmas period is particularly suitable for this. Therefore, we are pleased to invite you again to the XMAS-Alumni-Lectures at the PFH Private University of Göttingen – on Thursday, November 28, 2024 from 4:00 p.m.
As usual, alumni from various years will give short lectures (in English) that will give us an insight into very different industries with current topics:
Franziska Jostock, Porsche AG, Stuttgart (photo above)
Brand & Content / Marketing Communications
“Stories over products – How Type 7 drives cultural relevance beyond automotive”
Sebastian Thöne, MEILLER Elevator Doors GmbH, Munich
Pricing Manager
Enhancing Profitability through Product Differentiation and Customized Client Solutions
Lukas Breustedt, locandis GmbH, Hamburg
Customer Relationship Manager
“Bridging the analytics gap: Location-based services in brick-and-mortar retailing”
From around 7:00 p.m. we would like to end the evening with a joint visit to the Göttingen Christmas market.
Photo: Porsche AG
Pricing-Newsletter No. 84 (2024): Also Rely on Narratives in Pricing
/in Pricing Newsletter, Pricing Newsletter/by Prof. Dr. Hans-Christian RiekhofNarrative haben ihren Platz längst auch im Pricing erobert. In diesem Newsletter finden Sie einige Beispiele und erfahren, wie Sie diese als wirksames Instrument nutzen, um Preisstrategien besser umsetzen zu können.
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Porsche and VW CEO Oliver Blume relies on virtual Equity Stories
/in Unkategorisiert/by Prof. Dr. Hans-Christian RiekhofPricing-Newsletter No. 65 (2022): Do You Have Your Discount Strategy Under Control?
/in Pricing Newsletter/by Prof. Dr. Hans-Christian RiekhofFür viele Unternehmen ist nicht auf Knopfdruck transparent, wie hoch die tatsächlich gewährten Rabatte - differenziert nach Kunden und Produktgruppen - sind und wieviel Unternehmens-Ergebnis an welcher Stelle möglicherweise verschenkt wird. Kennen Sie die wichtigsten 8 Rabatt-Grundsätze?
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Pricing-Newsletter No. 58 (2022): When does it make sense to align pricing with the competition?
/in Pricing Newsletter, Pricing Newsletter/by Prof. Dr. Hans-Christian RiekhofUnsere Studien zeigen seit Jahren immer wieder klar: die meisten Unternehmen richten ihre Preise an den eigenen Kosten oder aber am Wettbewerb aus. Doch für nur ganz wenige Unternehmen macht es wirklich Sinn, sich an der Konkurrenz zu orientieren. Das ist das Thema dieses Pricing-Newsletters.
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Pricing-Newsletter No. 55 (2022): Unlocking Pricing Potentials with the Brand Canvas
/in Pricing Newsletter, Pricing Newsletter/by Prof. Dr. Hans-Christian RiekhofDie bekannten 4 P des Marketing (Product, Place, Promotion, Price) sollte man besser 3+1 P nennen. Denn anders als die ersten drei P steht das vierte P steht auf der anderen Seite der Gleichung: hier wird der Wert nicht erzeugt und kommuniziert, sondern abgeschöpft. Lesen Sie, wie unser Brand Canvas dieses 4P-Modell ergänzen oder vielleicht sogar ersetzen kann.
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Pricing-Newsletter No. 46 (2021): Strategic Pricing: Everyone gets the customers they deserve
/in Pricing Newsletter, Pricing Newsletter/by Prof. Dr. Hans-Christian RiekhofWas bewirkt die Preisstrategie bei den Kunden? Strategisches Pricing hat hier vor allem eine Aufgabe: Kunden zu selektieren. Der Preis ist ein hoch wirksames Mittel, um zu entscheiden, ob ein Kunde zum Unternehmen und seinen Produkten passt oder nicht. Jeder hat die Kunden, die er verdient.
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Connectivity services must be better integrated into the customer’s ecosystem
/in Interviews, Unkategorisiert/by Prof. Dr. Hans-Christian Riekhof
As part of the empirical study “Customer Insights: Connected Car Services in Germany”, which Prof. Dr. Hans Christian Riekhof and Marc Scholz conducted for the Private University of Göttingen, the following interview with Robert Stolt was created. Stolt has been a Senior Manager in the New Mobility division of Porsche Consulting for five years. Both privately and in his professional life, he deals with topics related to New Mobility (Mobility Services, Electromobility, Connected Car, Autonomous Driving). The answers and opinions expressed in this interview represent his own point of view and not that of Porsche AG or Porsche Consulting.
Professor Riekhof: What importance do you attach to connectivity services compared to other new topics in the automotive industry, such as electrification, mobility services, autonomous driving?
Robert Stolt: From my point of view, connectivity services are primarily assigned the importance of being an enabler for topics such as mobility services and autonomous driving. In this context, connectivity represents part of the components along the technological development.
Nevertheless, connectivity services can deliver added value for the customer through the possibility of individualization. Connectivity services can thus both drive new topic areas in the field of mobility and be an independent business area.
Professor Riekhof: What technological trends will further promote the topic of connectivity in the future?
Robert Stolt: I think that strong technological drivers in the connectivity environment will be services to extend vehicle functions via over-the-air updates on the one hand. And on the other hand, vehicle-to-everything (V2X) communication. In the future, communication with the charging station will also be important due to electrification.
Professor Riekhof: What measures do you think could be taken to further promote the spread of connectivity services?
Robert Stolt: To further promote the spread of connectivity services, it requires a simplification of the use of Connected Car Services and an accelerated integration of the services into the vehicle ecosystem. Likewise, the handling of Connected Car Services can be improved by voice control in the vehicle.
This function greatly simplifies the usability of the services. Likewise, connectivity services must be better integrated into the customer’s ecosystem. Ultimately, online training or “how-to-use” videos from the manufacturer or the sales consultant in the car dealership could also be a way to support customers in dealing with the services or in activation.
Professor Riekhof: How important do you think future collaborations with third-party providers, such as streaming providers or payment service providers, will be in the context of vehicle connectivity?
Robert Stolt: I think that collaborations with third-party providers can be helpful in order to keep the focus on one’s own core competencies in the sense of Connect Services. However, own services should also be offered that have added value for the customer in relation to the own brand. In this context, Porsche, for example, offers the Porsche Track Precision App to promote brand loyalty of customers through Connect Services.
Professor Riekhof: Our study shows that almost a third of respondents are not willing to pay for Connected Car Services. Are you considering models of flexible pricing or on-demand pricing to increase acceptance for Connected Car Services?
Robert Stolt: At Porsche, a free usage period for the Connect Services is included for the customer at the beginning. After this usage period has expired, the Connect Services are offered at fixed package prices.
Professor Riekhof: Do you see different needs regarding the Connectivity Services for fleet customers and private customers?
Robert Stolt: Yes. Fleet customers usually place greater value on connectivity services that can lead to more efficiency or transparency of the total cost of ownership, while private customers also request infotainment services in addition to safety features.
Professor Riekhof: According to our study, there is great trust in the premium manufacturers in the use of data from the Connectivity Services, Apple is in 4th place ahead of other European manufacturers. Facebook and Google are clearly lagging behind. How do you assess this result?
Robert Stolt: Apple differs from Facebook and Google in that they invest heavily in the perception as a data protection technically secure company. This image and the external impact of Apple is very positively perceived by customers, especially in Europe.
In the future, data protection features will be in even greater demand, which will make Apple’s lead over the other internet companies even more relevant. In general, Connectivity Services should primarily offer added value from the customer’s point of view – e.g. when using the vehicle, and no data should be sold to other companies.
Photos: Robert Stolt, UnicConsult
Further links:
More on the study “Customer Insights: Connected Car Services in Germany” (Riekhof/Scholz, published 2020)
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Pricing Seminar with Prof. Riekhof
As a participant of the pricing seminar, you will:
- approach strategic pricing with a changed mindset and better assess the contribution of professional pricing to results.
- have a clear methodological framework with the RSEC model to better handle the complexity of pricing.
- develop concrete ideas for quick wins in pricing and assess their feasibility.
- create a reliable estimate of the performance improvement that can be achieved through a pricing project.