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How are price increases being implemented in the current times of inflation? Are the responsible executives prepared for "Inflation Pricing"? Do they act quickly and decisively enough, with a strategic concept, differentiated in the price increases? The current study by PFH Private University of Göttingen on "Inflation Pricing" provides insights.

PFH Study “Inflation Pricing”: How do companies implement price increases?

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Price increases have been a highly topical and also sensitive issue for months. Shortages of electronic components, drastic price increases for many materials, exploding sea freight rates, price increases due to the war in Ukraine for gas, oil and electricity, at the same time wage demands by trade unions in unusual magnitudes: This is the environment in which companies have to pass on their increased and presumably also further increasing costs to their customers.

But how are such price increases implemented? Are the responsible executives prepared for “Inflation Pricing”? Do they act quickly and decisively enough? Do they have a strategic concept for the procedure? How differentiated do they implement price increases?

Price adjustments have always been a strategically important component of a comprehensive pricing strategy. They are at the center of the present study, in which we have focused for the first time on a single pricing process, namely price adjustments.

The study is available for free download at the following link:
https://www.unicconsult.com/wp-content/uploads/2022/08/PFH.BRO_.130.220830_Studie_InflationPricing_RZ_web.pdf

Photo: Simon Kadula, pexels.de

Unsere 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.

Pricing-Newsletter No. 58 (2022): When does it make sense to align pricing with the competition?

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Unsere 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.

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.

Regionale Einheitspreise sind in der Regel suboptimal. Zunehmend werden daher in vielen Branchen Preise systematisch nach regionalen Kriterien differenziert. In einer (noch unveröffentlichten) Studie untersuchten wir, wie das in der Praxis gehen kann. Hier verraten wir die ersten Ergebnisse, die durchaus überraschen.

Pricing-Newsletter No. 54 (2021): How does regional price differentiation work in practice?

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Regionale Einheitspreise sind in der Regel suboptimal. Zunehmend werden daher in vielen Branchen Preise systematisch nach regionalen Kriterien differenziert. In einer (noch unveröffentlichten) Studie untersuchten wir, wie das in der Praxis gehen kann. Hier verraten wir die ersten Ergebnisse, die durchaus überraschen.

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.

The trade magazine Hardware Store Manager now reports on the results of the study "Instore Navigation in German Retail" (2021, Riekhof/Grüneklee/Reutel). An expert survey among retail managers made it clear that there is still room for improvement in the exploitation of digital possibilities.

Hardware Store Manager Magazine picks up study “Instore Navigation in German Retail”

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The digital trade journal Hardware Store Manager picks up the current study “Instore Navigation in German Retail” in an article. As part of an expert survey, Prof. Dr. Hans-Christian Riekhof, Professor of International Marketing at the PFH, together with two other authors from the PFH, examined for the university what contribution digital customer cards and the associated instore navigation can make to the digitization of stationary retail, such as facilitating product search in large sales areas like hardware stores. The magazine has now published some research results.

Under the headline “Study: Retail gives away chance for additional sales at the shelf”, the magazine essentially summarizes as follows: There is still room for improvement in the exploitation of digital possibilities in stationary retail in Germany. The survey among retail managers made it clear that only just under half (46 percent) of the companies surveyed by the researchers have already used or are using digital customer cards, this is planned by 11 percent.

Most companies are primarily concerned with making the shopping experience more pleasant for customers. “Location-based marketing and couponing, customer surveys directly at the scene and similar functions that digital customer cards also offer, seem to play a secondary role from the perspective of the surveyed managers”, Riekhof is quoted.

Links:

Article in Hardware Store Manager:
https://www.baumarktmanager.de/studie-handel-verschenkt-chance-auf-zusatzumsaetze-am-regal/150/84280/

Article in Hardware Store Manager as pdf:
Study: Retail gives away chance for additional sales at the shelf

More about the study “Instore Navigation in German Retail”:
https://www.unicconsult.com/referenz/instore-navigation-im-deutschen-einzelhandel-eine-expertenbefragung/

Mobile Apps: A study on the use of smartphones in stationary retail was presented by Capgemini Consulting. It was examined in which phases of the purchasing process consumers are already using mobile devices today and what benefits they achieve.

Mobile Apps in Retail – Study by Capgemini Consulting

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Technical innovation does not stop at stationary retail in Germany. This is happening at a rapid pace. After many retailers have already marketed their products in their own online shops or on Amazon, they are already confronted with the next wave of disruption. Mobile commerce is well on its way to becoming the number one online channel. Mobile apps on smartphones enable companies to interact digitally and in real time with customers. This creates completely new shopping experiences.

Capgemini Consulting, the global strategy and transformation consultancy of the Capgemini Group, has presented a study on the use of smartphones in stationary retail. It was examined in which phases of the purchasing process consumers are already using mobile devices today and what benefits they achieve.

Photo/Screenshot: Capgemini Consulting

The study:
Study “Mobile Apps in Retail” (pdf)

More about Capgemini Consulting:
www.capgemini.com/de

The study on Connected Car Services (Riekhof/Scholz, 2020) was picked up by the Harvard Business Manager in its March issue. The magazine primarily addresses the question of whom German drivers trust more with the use of data in connected vehicles: the automotive corporations or the tech corporations.

Harvard Business Manager reports on Connected Cars study

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The study on Connected Car Services by Professor Hans-Christian Riekhof and Marc Scholz (2020) was picked up by the Harvard Business Manager in its March issue.

Under the headline “Connected Cars – Who gets my data?”, the business trade magazine primarily addresses the question raised in the study by the researchers of whom German drivers trust more with the use of data in connected vehicles: the automotive corporations or the tech corporations. Riekhof, Professor of International Marketing at the Private University of Göttingen and author of numerous marketing studies, and Marc Scholz revealed in the sensational study that the tech corporations are at a disadvantage here. “German drivers trust automotive corporations like Daimler (Mercedes), BMW, VW and Toyota far more than large tech corporations when it comes to the security of their data in connected cars (Connected Cars)”, the magazine quotes one of the important results of the study, which is based on a survey among specialists and executives.

Accordingly, Google, Amazon and Facebook ended up in the last places. From the authors’ point of view, this will remain the biggest obstacle to the further development of the services, the Harvard Business Manager continues to quote.

Read “Customer Insights: Connected Car Services in Germany” study (pdf):
https://www.unicconsult.com/wp-content/uploads/2020/07/PFH-Studie-Connected-Car-Services-Riekhof-Scholz-2020.pdf

The online platform Springer Professional is currently reporting on vehicle connectivity (Car-2-X) and also covers the much-noticed Connected-Car-Services study by PFH (Riekhof/Scholz, 2020).

Online Platform Springer Professional Covers Connected Car Study

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The online platform Springer Professional, specialized in professional journals and books, is currently reporting on Connected-Car-Services. It also covers the Connected-Car-Services study conducted by Prof. Hans-Christian Riekhof and Marc Scholz for the Private University of Göttingen PFH in spring 2020.

The car is transforming into a connected mobility product. Car manufacturers are advancing the connectivity of their vehicles. The importance of connected vehicles will increase in the coming years. This would actually interest consumers, as surveys show, writes the editorial team. However, the willingness to pay and trust in data security are rather low.

For consumers, the decision for or against Connected-Car-Services is not only about cost-benefit aspects, but also about the security of the data, the platform quotes Marc Scholz, co-author of the PFH study and master’s graduate of the PFH. And there is a lack of trust in data security. “A good two-thirds of respondents (68 percent) expressed concerns about data security and data use.”

The survey showed that compared to leading automotive corporations and leading IT corporations, users place higher trust in the automotive corporations, says Scholz. According to the study, trust in premium manufacturers in the use of data from connectivity services is high, Apple is in 4th place ahead of other European manufacturers, Facebook and Google are far behind, Springer Professional continues.

The detailed report on Springer Professional:
https://www.springerprofessional.de/car-to-x/internet-der-dinge/nachholbedarf-bei-connected-car-services/18466064

Read the study “Customer Insights: Connected Car Services in Germany” (pdf):
https://www.unicconsult.com/wp-content/uploads/2020/07/PFH-Studie-Connected-Car-Services-Riekhof-Scholz-2020.pdf

The study "Connected Car Services in Germany (Riekhof/Scholz, 2020, Private University of Göttingen) is now a detailed topic on the internet portal "Industry of Things". Against the backdrop of the development towards electromobility, the study reveals exciting insights.

Online Portal Industry of Things features study on Connected Car Services

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The internet portal “Industry of Things” currently reports on the study “Connected Car Services in Germany”, which Prof. Hans-Christian Riekhof and Marc Scholz conducted for the PFH Private University of Göttingen. The online portal focuses on the practical use of Internet of Things, M2M and Industry 4.0 applications.

82 percent of respondents see great potential in the connectivity of vehicles, the portal quotes Dr. Hans-Christian Riekhof, Professor of International Marketing, one of the authors of the study. The results suggest that a large majority of respondents (83 percent) have a high interest in Car2Car safety communication. This refers to warnings to following vehicles about an accident, black ice or similar dangers.

However, the biggest obstacle to the further development of the services is the lack of trust in data security. A good two-thirds of respondents (68 percent) expressed concerns about data security and data use. A total of 534 people participated in the study, which answered a variety of questions, when it was created in spring 2020.

Links on the topic:

The detailed report on the Online Portal Industry of Things:
https://www.industry-of-things.de/bei-connected-cars-haben-autofahrer-bedenken-hinsichtlich-der-datensicherheit-a-965647/

Read the study “Customer Insights: Connected Car Services in Germany” (pdf):
https://www.unicconsult.com/wp-content/uploads/2020/07/PFH-Studie-Connected-Car-Services-Riekhof-Scholz-2020.pdf

What is the willingness to pay for connectivity services in vehicles? This is the question posed by the industry newspaper Automobilwoche - and it also refers to the study "Connected Car Services in Germany" (Riekhof/Scholz). The answer is clear.

Automobilwoche reports on PFH’s “Connected Car Services-Study”

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What is the willingness to pay for connectivity services in vehicles? The industry and economic newspaper Automobilwoche asked this question in its online edition (10.09.2020). The article deals with the increasing importance of electric cars and the associated Connected Services. According to the consultants at Cap Gemini, the importance of networked vehicles will increase in the coming years. “In 2018, there were still 119.4 million worldwide, but their number is expected to rise to 352 million by 2023.”

According to a study by Cap Gemini, 56 percent of car owners have networked services in their vehicles. About half of them use these services frequently or very frequently and just under a third occasionally. The study “Connected Car Services in Germany” by PFH Private University of Göttingen is also quoted.

In both studies, it is clear that the willingness to pay is currently relatively low. According to the Cap Gemini study, 39 percent of participants said that the services are useful, but not sufficiently developed, while another 23 percent are not aware of their benefits. According to the study “Connected Car Services in Germany”, conducted by Hans-Christian Riekhof and Marc Scholz in spring 2020, about a quarter are not willing to pay for connectivity services. Just over a third would pay about 10 euros a month for the service.

Links on the topic:

Contribution on automobilwoche.de:
https://www.automobilwoche.de/article/20200910/NACHRICHTEN/200919993/studien-zu-connected-services-interesse-ja-bezahlen-nein

Read the study “Customer Insights: Connected Car Services in Germany” (pdf):
https://www.unicconsult.com/wp-content/uploads/2020/07/PFH-Studie-Connected-Car-Services-Riekhof-Scholz-2020.pdf

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