The Price Is Right – Maybe: New Deloitte Book Demystifies Pricing and Profitability Management
NEW YORK, July 13, 2011 – Pricing is a powerful and proven strategy for improving profitability, yet few organizations know how to do pricing well. “Pricing and Profitability Management: A Practical Guide for Business Leaders,” a new book released today by Deloitte, helps organizations to better understand and implement effective pricing management.
Deloitte practitioners and authors Julie Meehan, Mike Simonetto, Larry Montan and Chris Goodin bring decades of experience in pricing and profitability management to support their perspectives on results of pricing decision-making and the need for an integrated approach.
“Despite improvement in recent years most companies still aren’t capable of managing price effectively and are leaving real money on the table,” said Mike Simonetto, principal, Deloitte Consulting LLP and global pricing and profitability management practice leader.
Simonetto added, “Many companies are awakening to the power of pricing and are starting to make the investment to improve their capabilities. Pricing competency is quickly becoming table stakes as organizations without a roadmap for improvement will likely see it reflected negatively in their bottom lines.”
Fellow author, Julie Meehan, a leader in Deloitte’s pricing and profitability management practice, said, “We give readers insight into how companies can transform their pricing capabilities to dramatically improve their businesses. While many executives focus on price setting with marketing and sales teams, they sometimes neglect the role that finance, information technology, human resources, legal and other teams have in managing price execution and margin erosion in a sustainable, company-wide approach to pricing.”
In the book Deloitte outlines the following six core competencies of a holistic, integrated approach to pricing:
Additional information and an excerpt of the book are available at http://www.deloitte.com/us/pricingbook
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