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Which pricing strategy is right for my company? What are the components of a long-term pricing strategy? How do I check the pricing processes? These and many other questions are discussed by pricing expert Prof. Dr. Hans-Christian Riekhof in a lecture at the IHK Flensburg.

01.11.2023 │ Flensburg – Lecture: Which pricing strategy is right for my company?

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Where:
IHK Flensburg
Heinrichstraße 28-34
24937 Flensburg
Email: service@nullflensburg.ihk.de
Tel.: 0461 806-806
Fax: 0461 806-9806

When:
Wednesday, 01.11.2023
16:00 – 18:00

Topic/Speaker:
Under the title “Value creation through intelligent pricing strategies”, the question is: which pricing strategy is right for my company? The simplest way to increase a company’s return is to raise prices. However, the market may react very sensitively to this. In the worst case, it can lead to customer losses. Using price as a strategic lever for more value creation therefore requires a long-term concept. What are the components of a long-term pricing strategy? How do I check the pricing processes? How do I design the price communication to the outside? Is there effective price controlling?

These and other questions will be addressed by Prof. Dr. Hans-Christian Riekhof. Since 2005, Professor Riekhof has been intensively dealing with questions of strategic and operational pricing in the form of projects and studies.

The event at the IHK Flensburg is free of charge. Please register using the following link:
https://www.ihk-flensburg.de/services/veranstaltungskalender?enable-booking=1#/details/2630/2630/-

Links:

Pricing Study 2023: Pricing Processes in Business Practice
https://www.unicconsult.com/pricing-studie-2023-pfh-private-hochschule-goettingen-legt-neue-empirische-untersuchung-von-pricing-prozessen-in-unternehmen-vor/

Pricing Seminar with Prof. Dr. Hans-Christian Riekhof
https://www.unicconsult.com/pricing-seminar/

Registration for the Pricing Newsletter
https://www.unicconsult.com/pricing-newsletter/newsletter-abonnieren/

The bank magazine reports on the study on "Inflation Pricing" by the PFH Private University of Göttingen. Prof. Hans-Christian Riekhof and Julius Reutel have examined how companies implement price increases in the current crisis times.

Bank Magazine Reports on Inflation Pricing Study

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Under the title “Trade turns the price screw” the trade magazine writes on 28.09.2022 about the current challenges of the middle class. Lockdowns, supply shortages and extreme price jumps on the energy side lead to many companies having to adjust their pricing with their customers and also enforce it, so that they remain profit levers.
Numbers from the cross-industry Inflation Pricing Study of the PFH Private University of Göttingen made it clear where the journey was going.
More than 60 percent of companies want to pass on double-digit price increases to their customers. 15 percent calculate price surcharges of 20 percent and more. And 82 percent pass on, for example, price increases that occur in raw materials and preliminary materials.
Further links:
Complete message:
www.springerprofessional.de/link/23470916
Pricing study on Inflation Pricing – Riekhof/Reutel, PFH 2022:
https://www.unicconsult.com/referenz/riekhof-reutel-inflation-pricing-empirische-studie-der-pfh-goettingen-2022/

The marketing magazine Horizont refers in a current article to the results of the recently published empirical inflation-pricing study by Prof. Hans-Christian Riekhof and Julius Reutel.

Marketing Magazine Horizont reports on Inflation-Pricing-Study

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Under the title “Companies set prices in inflation across the board – No desire for price differentiation”, Horizont, one of the leading marketing magazines, refers to the recently published inflation-pricing study by the PFH Private University of Göttingen. Pricing expert Prof. Hans-Christian Riekhof and Julius Reutel examined in this empirical study in 2022 how companies implement price increases.

“Rising production costs, supply chain delays, ongoing chip shortages and not least the energy crisis are causing companies to drastically increase prices. According to a current study by the Private University of Göttingen on the subject of inflation, 60 percent of the companies surveyed plan to increase prices by at least 10 percent this year, and 30 percent of the companies even want to increase prices by 15 percent or more”, Horizont reproduces some results. “There is obviously a considerable need for action, among other things due to the raw material price situation”, Horizont quotes from the study.

Further links

Full article (paywall):
Companies set prices in inflation across the board

The Göttingen daily newspaper reports in its edition of 09.09.2022 on the study on "Inflation Pricing" by the PFH Private University of Göttingen. Prof. Hans-Christian Riekhof and Julius Reutel have investigated how companies implement price increases in the current crisis times.

Göttingen Daily Newspaper Reports on Inflation-Pricing Study

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The Corona pandemic with the lockdowns and the war against Ukraine with the consequences of supply shortages, rising raw material and energy prices as well as inflation: customers, end consumers and companies are currently feeling this. For the Göttingen daily newspaper, this was a reason to pick up on the current empirical study on “Inflation Pricing” by the PFH Private University of Göttingen, in which Prof. Hans-Christian Riekhof and Julius Reutel have examined price policy in the economy.

In their article titled “Companies want to increase prices in the double-digit range”, the newspaper goes into detail on the results of the investigation. In the current situation, significant price increases are inevitable for many companies, the Göttingen daily newspaper quotes the announcement of the PFH. A third of the companies surveyed will implement price increases of 15 percent in 2022, 72 percent can therefore imagine a second increase, more than 60 percent want to raise prices in the double-digit range, 15 percent to 20 percent and more.

“In contrast to the pricing studies of the past years, which the PFH has been conducting since 2009, for the first time such a clear and more than obvious signal towards price increase has shown”, the paper quotes one of the conclusions of the study makers. The perhaps most important finding of the study, it says, is according to Prof. Riekhof, that many companies do not differentiate when implementing the price increases, but proceed very generally.

 

Further Links

Full article of the Göttingen daily newspaper as pdf:
https://www.unicconsult.com/wp-content/uploads/2022/09/Goettinger-Tageblatt-09.09.20228-Inflation-Pricing.pdf

Pricing study on Inflation-Pricing – Riekhof/Reutel, PFH 2022:
https://www.unicconsult.com/referenz/riekhof-reutel-inflation-pricing-empirische-studie-der-pfh-goettingen-2022/

The Brand Article magazine reports on price adjustments in challenging times. The magazine refers to the results of the current empirical inflation pricing study by Prof. Hans-Christian Riekhof and Julius Reutel.

Brand Article Magazine Picks Up Inflation Pricing Study

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Brand Article, a magazine for brand leadership, reports on the results of the recently published Inflation Pricing Study by PFH Private University of Göttingen in a current article. Prof. Hans-Christian Riekhof and Julius Reutel examined in this empirical study in 2022 how companies implement price increases. Responses from 163 companies were evaluated.

According to the study, an inflation rate of ten percent for 2022 is considered possible by many experts. 30 percent of respondents therefore plan price increases of 15 percent and more in 2022, 61 percent of companies will raise prices in the double-digit range. 72 percent of companies can even imagine a second price increase. Only 16 percent of companies clearly say no to this question.

The magazine summarizes the conclusion: “As an overall conclusion, the study’s authors judge that the differentiation of price increases by product categories and by customer groups can be expanded. At some points it becomes visible that a blanket approach is still predominant and that sales is the essential force both in planning and in implementing price increases.”

Further links

Full article in the Brand Article magazine:
https://www.markenartikel-magazin.de/_rubric/detail.php?rubric=marke-marketing&nr=53919&PHPSESSID=aq1br7ckguhrb3pqtrst9irqp3

Inflation Pricing Study – Riekhof/Reutel, PFH 2022:
https://www.unicconsult.com/referenz/riekhof-reutel-inflation-pricing-empirische-studie-der-pfh-goettingen-2022/

The VDI Nachrichten report on the intention of many companies to want to raise their prices due to increased costs. The magazine refers to the results of the current empirical inflation-pricing study by Prof. Hans-Christian Riekhof and Julius Reutel.

VDI Nachrichten refer to Inflation-Pricing Study

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The VDI Nachrichten report on the intention of many companies to want to raise their prices due to increased costs. In an article from 06.09.2022, the magazine refers to the results of the current empirical study by Prof. Hans-Christian Riekhof and Julius Reutel, who have examined for the Private University of Göttingen (PFH) how companies control and shape price adjustment processes.

The initial situation: supply bottlenecks and problems in international supply chains lead to rising energy and raw material prices – significant price increases for many companies are inevitable.

82% of the companies state in the study that they want to pass on the price increases for raw materials and preliminary materials. A third of the companies surveyed plan price increases of 15% and more in 2022, 72% of the companies surveyed can even imagine a second price increase this year.

Further results of the study: The evaluations of the investigation indicate that new customers in particular will be affected by the price increases. And many companies forego a differentiated approach to price adjustments and implement price increases very generally.

Further links:

Full article in the VDI Nachrichten:
https://www.vdi-nachrichten.com/wirtschaft/es-wird-noch-deutlich-teurer-unternehmen-wollen-preise-erhoehen/

Pricing study on inflation pricing – Riekhof/Reutel, PFH 2022:
https://www.unicconsult.com/referenz/riekhof-reutel-inflation-pricing-empirische-studie-der-pfh-goettingen-2022/

 

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