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The online edition of the newspaper Mannheimer Morgen reports on the pricing study "Pricing in Automotive Suppliers" by PFH Private University of Göttingen.

Study “Pricing in Automotive Suppliers” in Mannheimer Morgen

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The online edition of the newspaper Mannheimer Morgen has picked up the study “Pricing in Automotive Suppliers” by PFH Private University of Göttingen. The empirical pricing study was developed by pricing expert Prof. Dr. Hans Christian Riekhof and Maximilian Mitschke (M.Sc.).

Automotive suppliers could increase their profits by focusing more on their pricing, the paper writes. Dr. Hans-Christian Riekhof, Professor of International Marketing at PFH, found in a survey of executives and experts from sales and marketing that pricing does not have a consistently high internal value. Compared to the other profit drivers, such as variable and fixed costs and sales volume, price is given the least importance. Suppliers see cost reductions and volume increases as more important for improved profitability than improved price enforcement.

Read the detailed study at:
https://www.unicconsult.com/referenz/riekhof-mitschke-pricing-bei-automobil-zulieferern-2018/

Mannheimer Morgen online:
https://www.morgenweb.de/auto_artikel,-auto-studie-luft-nach-oben-bei-der-preisgestaltung-_arid,1251006.html

 

Are customers too comfortable for price comparisons and prefer to incur higher costs? At least a large part of drivers do not seem to care so much about the prices at gas stations.

ADAC Study on Price Competition at Gas Stations

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Are customers too comfortable for price comparisons and prefer to incur higher costs? At least a large part of drivers do not seem to care so much about the prices at gas stations. This conclusion is suggested by a new ADAC study that examines price competition at gas stations. The study provides interesting insights into pricing and consumer behavior. Thus, ADAC President Peter Meyer says that 43 percent of drivers only refuel when the tank is empty. 41 percent never or rarely compare fuel prices, and 40 percent always head for the same gas station – even though the prices fluctuate by up to 10 cents per day at the same gas station.

Price competition at gas stations leaves customers rather cold

To this pricing expert Professor Hans-Christian Riekhof: “Basically, the ADAC study confirms what we also find out again and again in our regular empirical studies on consumer behavior: customers are far less price-sensitive than is generally assumed. They buy products (and refuel) when it is necessary and the specific need is there (the tank is empty), they neither have the time nor the energy to deal extensively with price comparisons or even to drive a detour. From a behavioral research perspective, this is quite understandable.”

As reported by the Süddeutsche Zeitung in its edition of December 5, 2017, Deutsche Bahn wants to work on its pricing strategy and differentiate its ICE prices more. Planned are price adjustments depending on both the speed of the trains and the utilization.

Does Deutsche Bahn need a new pricing strategy?

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As reported by the Süddeutsche Zeitung in its edition of December 5, 2017, Deutsche Bahn wants to work on its pricing strategy and differentiate its ICE prices more. Planned are price adjustments depending on both the speed of the trains and the utilization.

Pricing expert Professor Hans Christian Riekhof says: “It makes a lot of sense to include the speed of the ICE in the pricing, because the passengers get to their destination noticeably faster. As for the utilization-dependent price differentiation of the routes of plus or minus 4.9%, this range is much too small in my estimation.” Professor Riekhof advocates that DB conducts benchmarking with other industries, such as the musical business or airlines. There has been a much more pronounced time-dependent price differentiation for years. “Revenue potentials are being given away here,” says the pricing specialist.

 

Photo: www.pixabay.com

The Attack of the Discounters

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On 29.11.17, Handelsblatt reported on the attack and expansion strategy of the discounters. Cheap chains like Zeeman, Rusta, Primark and Action are expanding in the German market. Why does the discount segment still seem to promise growth?

Pricing expert Professor Hans Christian Riekhof says: “Discount shopping is and remains a basic pattern of the consumer, which aims at satisfying a clearly defined need, and as simply and uncomplicatedly as possible. What we should not overlook: the same consumer buys later also in other stores, where it is about the ambience, the selection, the little luxury. And that is no contradiction at all.”