Management thinker and economics professor Hermann Simon is one of the leading experts on pricing in the world. In an interview with International Trade News, he shows how a small and medium-sized company managed to increase its turnover tenfold through the use of Power Pricing. Just how high the bar must be set to see the maximum benefit from this pricing strategy can be seen in the following mantra from the aviation industry: If I want to sell 2,000 seats and have 400 price points – then that I am short by 1,600 price points.
Give your employees permission to do what they want for 20% of their working day. The thought has probably left you scratching your head and intuitively thinking it’s a crazy idea that could never work. However, Professor Florian Becker, who has just published a book on the psychology of managing people, has identified a trend towards greater freedom that can have a significantly positive effect on a company’s success.
Less digital is more. At least that seems to be the case for the future of the luxury watch market, says Aldo Magada, CEO and President of Swiss luxury watch maker Zenith: “We will never compete with digital or connected watches because it’s not our segment.” As a luxury watch maker, Magada is putting his faith in disconnected watches. He also hopes they will be his biggest asset in attracting a younger generation of customers.
The early Greek elections, scheduled for 25 January 2015, suddenly put the word “Grexit” – Greece’s possible exit from the Eurozone – back on everyone’s lips. This intensely discussed worst-case scenario, which has Greece and the Eurozone feeling anxious, is owed, however, not only to the demagogic and utopian left Greek opposition leader Alexis Tsipras.
Jens Böhlmann, Head of Press Relations and a director of the German/Russian International Chamber of Commerce (AHK) has called for a withdrawal of the Russian state from the economy. Its involvement is too great, says Mr. Böhlmann in an interview with International Trade News. He refers to a so far unpublished AHK survey according to which a quarter of its members have been heavily affected by the devaluation of the rouble.
According to Google, many German medium-sized businesses still haven’t understood the scope of the Internet’s reach. Marketing isn’t exactly the SMEs’ strongest subject either, says Stefan Hentschel, Industry Leader Technology at Google Germany in an interview. For export-oriented companies, Google is offering coaching through its “worldwide growth” platform. It is all about seizing opportunities to win additional business via digital sales channels – without turning one’s back on traditional sales routes.
Behind the success story of the New Zealand Hidden Champion, Gallagher, stands a strong and cosmopolitan personality: Sir William Gallagher, CEO of the world leader for electrical fences. He believes the establishment of in-house sales and marketing channels is one of the most important reasons for the company’s success. In an interview, he also talks about his leadership style, which he compares to that of a football coach.