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For the Hamburg magazine New Business, pricing expert Prof. Riekhof has now given an interview. The topic is pricing for luxury.

The Ideal Price for Luxury: Pricing Expert Riekhof in Interview with Marketing and Media Magazine New Business

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For the Hamburg magazine New Business, pricing expert Prof. Riekhof has now given an interview. The topic is pricing for luxury.

For the Hamburg magazine New Business, pricing expert Prof. Dr. Hans-Christian Riekhof has now given an interview. The topic of the detailed contribution, which can be read in the current print edition 6/2020 of the medium focused on the media and marketing communication scene, is strategic pricing in the luxury segment. Under the headline “The higher, the better? The ideal price for luxury” Prof. Riekhof explains the crucial role of price in the luxury segment and how brand managers can find the right price for their luxury items.

Dr. Hans-Christian Riekhof is Professor of International Marketing at the PFH Private University of Göttingen and Managing Partner of UNICconsult Strategy Development. For many years he has been conducting empirical studies on pricing and he advises companies on price strategic orientation and the implementation of pricing strategies.

Learn more about the interview in the New Business magazine here:
https://www.new-business.de/_rubric/index.php?rubric=80

Other articles that might interest you

How luxury customers tick:
https://www.unicconsult.com/pricing-newsletter-no-16-2018/

The Riekhof LSDC model in practice – Why we need a new customer group model for pricing:
https://www.unicconsult.com/pricing-newsletter-no-10-2017-das-riekhof-sche-lsdc-modell-in-der-praxis/

Find more informative articles about pricing strategies at:
https://www.unicconsult.com/pricing-newsletter/

The new business magazine

new business is a media brand of the Hamburg New Business publishing house, founded more than 40 years ago. The weekly print magazine’s editorial team reports on major industry topics in the two main sections Communication and Media, analyses changes in markets, provides background information on current events and gives guest authors a voice.

In addition, the editorial team evaluates creative competitions and incorporates the results of the Redbox ranking. Exclusive news about changes in agencies and media companies, budget pitches, personnel changes, launches of new magazines and portals as well as marketer changes round off the editorial spectrum.

The website new-business.de keeps the media and communication scene up to date every day. From Monday to Friday, the midday news and evening news provide the community with news twice a day. Particularly relevant information is immediately sent out as breaking news.

Die Schnäppchen-Jäger scheinen auf dem Vormarsch - viele Unternehmen können sich diesem Trend nicht entziehen. Was dahinter steckt, untersuchen wir im aktuellen Pricing-Newsletter.

Pricing-Newsletter No. 31 (2020): The LSDC Model and Pricing for Smart Shoppers

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Die Schnäppchen-Jäger scheinen auf dem Vormarsch - viele Unternehmen können sich diesem Trend nicht entziehen. Was dahinter steckt, untersuchen wir im aktuellen Pricing-Newsletter.

Jetzt kostenlosen Zugang erhalten zu allen unseren Pricing Studien, zu unseren Pricing News und zu unseren mehr als 70 Pricing-Newslettern, mit denen Sie zum Pricing Experten werden können.

How do you simultaneously reach 50,000 employees in 60 languages? In an interview, Markus von Aschoff, Managing Director Limeade Europe, provides insights into marketing-specific considerations regarding the employee app ONE and the company.

Limeade: How do I reach all 50,000 employees of a corporation?

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Limeade
Markus von Aschoff, Managing Director Limeade Europe

On April 6, 2019, Markus von Aschoff (photo), Managing Director Limeade Europe, gave a lecture on Digital Marketing at the invitation of Professor Hans-Christian Riekhof at PFH Private University of Göttingen. In the following interview, the manager provides insights into the strategic and operational measures of the company.

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Bei Preislisten denkt man meist an mehr oder weniger dicke gedruckte Kataloge, die einmal im Jahr erscheinen und an eine große Zahl von Kunden versandt werden. Ist das noch zeitgemäß? Gibt es sinnvolle Alternativen? Das ist das Thema unseres aktuellen Newsletters.

Pricing-Newsletter No. 30 (2019): Are price lists in B2B business still contemporary?

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Bei Preislisten denkt man meist an mehr oder weniger dicke gedruckte Kataloge, die einmal im Jahr erscheinen und an eine große Zahl von Kunden versandt werden. Ist das noch zeitgemäß? Gibt es sinnvolle Alternativen? Das ist das Thema unseres aktuellen Newsletters.

Jetzt kostenlosen Zugang erhalten zu allen unseren Pricing Studien, zu unseren Pricing News und zu unseren mehr als 70 Pricing-Newslettern, mit denen Sie zum Pricing Experten werden können.

Im neuesten Pricing-Newsletter klären wir das Thema Preis-Architetur. Wir gehen der Frage nach, warum man nicht nur eine Architektur für das Sortiment bzw. das Produkt-Programm, sondern auch eine sorgfältige Gestaltung der Preislagen benötigt.

Pricing-Newsletter No. 29 (2019): What can Price Architectures Achieve?

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Im neuesten Pricing-Newsletter klären wir das Thema Preis-Architetur. Wir gehen der Frage nach, warum man nicht nur eine Architektur für das Sortiment bzw. das Produkt-Programm, sondern auch eine sorgfältige Gestaltung der Preislagen benötigt.

Jetzt kostenlosen Zugang erhalten zu allen unseren Pricing Studien, zu unseren Pricing News und zu unseren mehr als 70 Pricing-Newslettern, mit denen Sie zum Pricing Experten werden können.

How do you deal with it from a marketing perspective when people drink less? On Monday, 25.11.2019, the Private University of Göttingen welcomes Jägermeister. The PFH welcomes Gunar Splanemann, Head of Global Innovation and Design, Mast-Jägermeister SE.

25.11.2019│Göttingen – Jägermeister: People drink less but better – or differently

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Jägermeister PFH

On Monday, 25.11.2019, it will be high-proof at the Private University of Göttingen. The PFH has Jägermeister, the manufacturer of the well-known herbal liqueur, as a guest. Gunar Splanemann, Head of Global Innovation and Design, Mast-Jägermeister SE, is welcomed.

The older generation may still remember the legendary and widely publicized campaign “I drink Jägermeister because …”. At that time, a strategic repositioning was necessary due to declining sales figures. New target groups were to be addressed without alienating the existing ones. Away from the “lonely drinker” towards group-related situations of joint celebrations – this was now the focus of positioning. The radical rejuvenation of the brand was perceived by many marketing experts as very successful. The international success proved their marketing strategists right.

Meanwhile, however, the question arises whether current societal trends lead to a reassessment of alcohol consumption. Therefore, Gunar Splanemann and Professor Hans-Christian Riekhof discuss in a workshop with marketing students of the PFH the question of how to deal with it when people drink less, but differently and often simply better.

Location:
PFH Private University of Göttingen
Weender Landstraße 3-7
37073 Göttingen

Date/Time:
Mo, 25.11.2019, 18:00 – 19.30 Uhr

The PFH is pleased to welcome interested parties this evening, external guests are welcome. The event is free. Registration is required, please by email to Wieschollek@nullpfh.de.

 

Photos: Jägermeister

Discover more exciting lectures in the winter semester program of the PFH

Mark your calendar: on 8.11.2019 the 7th Göttingen Marketing Day of PFH Göttingen will take place. The theme this year: Marketing in times of digital upheaval. Initiator and organizer Professor Dr. Hans-Christian Riekhof: "We will again have very high-profile speakers, there will be entrepreneurs and board members from well-known companies, and marketing agencies will also have their say."

08.11.2019│ SAVE THE DATE – 7th Göttingen Marketing Day – Digital Change

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Mark your calendar: on 8.11.2019 the 7th Göttingen Marketing Day of PFH Göttingen will take place. The theme this year: Marketing in times of digital upheaval. Initiator and organizer Professor Dr. Hans-Christian Riekhof: “We will again have very high-profile speakers, there will be entrepreneurs and board members from well-known companies, and marketing agencies will also have their say.”

Details on the 7th Göttingen Marketing Day can be found here.

Here you can download the complete program.

Location:
PFH Private University Göttingen
Weender Landstraße 3-7
37073 Göttingen

Link to the organizer:
https://www.pfh.de/veranstaltungen/goettinger-marketingtag.html

 

Date/Time:
Fri., 08.11.2019

 

In vielen Unternehmen sind die Prozesse sehr genau definiert, wie man einen Bleistift bestellen oder einen Firmenwagen leasen muss. Für die Pricing-Prozesse gilt das nicht unbedingt in gleicher Weise. In diesem Newsletter beleuchten wir diverse Aspekte im Umgang mit Pricing-Prozessen.

Pricing-Newsletter No. 28 (2019): Putting the Pricing Processes to the Test

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In vielen Unternehmen sind die Prozesse sehr genau definiert, wie man einen Bleistift bestellen oder einen Firmenwagen leasen muss. Für die Pricing-Prozesse gilt das nicht unbedingt in gleicher Weise. In diesem Newsletter beleuchten wir diverse Aspekte im Umgang mit Pricing-Prozessen.

Jetzt kostenlosen Zugang erhalten zu allen unseren Pricing Studien, zu unseren Pricing News und zu unseren mehr als 70 Pricing-Newslettern, mit denen Sie zum Pricing Experten werden können.

In unserer Wahrnehmung spielt eine große Rolle, welcher „Anker“ zunächst in unserem Gehirn gesetzt wird, bevor wir etwas wahrnehmen und beurteilen, bevor wir quantitative Schätzungen abgeben oder bevor wir Preise eines Gegenstandes schätzen. In diesem Newsletter geht es um Ankerpreise und wie sie funktionieren.

Pricing-Newsletter No. 27 (2019): What are Anchor Prices?

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In unserer Wahrnehmung spielt eine große Rolle, welcher „Anker“ zunächst in unserem Gehirn gesetzt wird, bevor wir etwas wahrnehmen und beurteilen, bevor wir quantitative Schätzungen abgeben oder bevor wir Preise eines Gegenstandes schätzen. In diesem Newsletter geht es um Ankerpreise und wie sie funktionieren.

Jetzt kostenlosen Zugang erhalten zu allen unseren Pricing Studien, zu unseren Pricing News und zu unseren mehr als 70 Pricing-Newslettern, mit denen Sie zum Pricing Experten werden können.

Amazon is increasingly promoting its own brands - with a new aggressive tactic in the USA: An Amazon own brand is now displayed to customers above the purchase button as an alternative to the selected product. This makes Amazon increasingly a threat to its marketplace sellers.

Amazon’s aggressive private label strategy

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Amazon is increasingly promoting its own brands. As the Lebensmittelzeitung now reports, the world’s largest online retailer is operating in the US market with a new aggressive tactic: An Amazon own brand is now displayed to customers above the purchase button as an alternative to the selected product. This clearly demonstrates that Amazon is increasingly competing with its marketplace sellers. How fair is such behavior?

Already in 2018, the “New York Times” reported that Amazon is increasingly breaking with its original business concept, namely democratizing trade by offering a platform to even the smallest retailer. Amazon is now often in competition with these very retailers. This is what Business Insider writes, referring to this article in its report. Amazon started very slowly with its own brands, but is now gradually working on directing customers away from competitors towards its own brands.

Successful marketplace sellers are being “amazonized”

The fact that Amazon is pursuing a consistent private label strategy in more and more product ranges has been observable for years, explains Dr. Hans-Christian Riekhof, Professor of International Marketing at the Private University of Göttingen. “Price and assortment strategically, this is of course highly attractive for Amazon, especially to oppose a cheaper private label product to the bestsellers of the brand manufacturers in the Amazon assortment. Especially since this usually has significantly more attractive margins.”

Amazon learns a lot from the sales figures of the sellers on the Amazon Marketplace. When bestseller products are then replaced by Amazon products, this is called “to be amazonized”, explains Riekhof. The fact that Amazon displays an Amazon alternative directly above the “Buy” button in the offers of its marketplace sellers in the USA means for the customers that they can decide what they find more attractive. “Whether the Amazon Marketplace remains attractive for the strong sellers in the long term is another matter”, says the marketing expert. “And whether they perceive this strategy as fair, likewise.”

Photo: Simon Steinberger by pixaby.com

 

Further links:

Lebensmittelzeitung (Paywall):
https://www.lebensmittelzeitung.net/handel/Produktplatzierung-Amazon-rueckt-Eigenmarken-in-den-Fokus-142348?crefresh=1

Stern (2017):
https://www.stern.de/wirtschaft/news/amazon–die-geheimen-eigenmarken-des-onlineriesen-7577786.html