Innovations in pricing can be transformative, but to reach their potential companies must devote equal attention to technical and organizational capabilities. Most firms, however, only pay attention to the technical dimensions of pricing, which severely limits the success of their initiatives. To remedy this, The Pricing Journey provides an integrated guide to the organizational, social, and behavioral aspects of pricing—drawing on principles of socio-technical change. Based on extensive qualitative and quantitative research in an array of firms around the world, Stephan M. Liozu provides a practical roadmap for management teams that aim to reach a new level of pricing power.
Liozu introduces the 5 C model of transformation, which relies on change, capabilities, champions, confidence, and center-led organizational design to create effective and lasting pricing strategies. Rooting his recommendations in research and practice, Liozu proposes specific capabilities to develop on the road to pricing excellence. This book prepares pricing and marketing professionals to be true strategic partners, while contributing the study of pricing transformation.
About the author
Stephan M. Liozu is Founder of Value Innoruption Advisors. He teaches at Case Western Reserve University's Weatherhead School of Management, where he draws on over 20 years of global business experience to introduce disruptive approaches to strategy, innovation, and value management.
"Neither businesses nor business schools provide sufficient guidance and training for effective pricing practices. The Pricing Journey addresses this need. An insightful and highly informative book, one that will be a must-read for anyone involved in pricing management."
—Kent B. Monroe, author of Pricing: Making Profitable Decisions
"Changing an organizational culture from cost to value is a long and complex journey. In this book, Stephan Liozu outlines the key dimensions that are needed to successfully make this transformation. He reminds us that it is about organizational change and understanding true value delivery, as well as profit. A must-read full of important concepts and practical recommendations."
—John Jacko, SVP & Chief Marketing Officer, Kennametal
"Pricing management is a critical but underappreciated element of business success. Stephan Liozu's book describes the journey towards pricing excellence and highlights the organizational strategies needed to raise the profile of this important function. By paying proper attention to capabilities, change management, design, and people skills, pricing professionals can achieve greater performance and, eventually, pricing excellence."
—Kevin Mitchel, President, Professional Pricing Society