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SESSION 2 | JANUARY 25, 2023
Revenue management in an inflationary environment
Learn how to set prices and manage the customer relationship. Increase profits while minimizing costs despite market difficulties. Learn the revolutionary method of the world's leading pricing authority.
Prof. Hermann Simon
Co-founder of Simon-Kucher & Partners, a global leader in pricing consulting, where he currently serves as chairman of the board. Expert in strategy, marketing and pricing. He was inducted into the "Thinkers50 Hall of Fame," a ranking of the world's top management thinkers. Cicero magazine ranks him among the top 100 of the 500 most important intellectuals. Former academic professor (Harvard Business School, INSEAD, Stanford University, Massachusetts Institute of Technology). Author of the bestselling books Pricing Man and Sure Profit! How to Create a Business Resilient to Every Crisis, both published by ICAN Institute.
Session description
For businesses, rising inflation means higher costs of production, providing services and maintaining staff, and for customers, higher costs of living or doing business, making them less willing to spend money on various products and services. So companies are faced with a dilemma - should they raise the price and potentially lose customers to ensure business profitability, or maintain the current price, retaining consumers, but failing to achieve the projected margin and profit? It turns out... you don't have to choose! Thanks to the methods developed by Professor Hermann Simon, the world's pricing guru, you'll learn how to flexibly manage price without losing customers and profits. This is an approach to pricing that any company, regardless of industry or size, can apply!
Thanks to this session:
Dr. Witold Jankowski
President of ICAN Institute
One of the most experienced strategy consultants in Europe. Creator and editor-in-chief of the Polish edition of Harvard Business Review (2003-2020) and MIT Sloan Management Review (2019). Initiator of groundbreaking meetings for Polish business with world management authorities in the areas of leadership and shaping organizational culture. Lectured in MBA programs at business schools in Canada. He conducts development programs for top managers in Poland (Management™, Strategic Leadership Academy™, Personal Leadership Academy™). As a trainer and consultant, he has worked with AstraZeneca, BNP Paribas, Continental, CITI Bank, Goodyear, ING, Shell and Viessmann, among others.
Dr. Przemysław Kwiecień, CFA
Analyst and investment advisor
Head of Research at X-trade Brokers DM S.A. Doctor of Economics. He has been fascinated by financial markets and the economy since 1996. He has been at the top of Bloomberg's global currency forecast ranking several times (2012, 2016, 2018 and 2020). And he was also named Analyst of the Year (2014 - NBP, 2015, 2017, 2010 - FX/Invest Cuffs). He has extensive experience in global market research and managing an international research team. He admits that his greatest satisfaction comes from expressions of appreciation from readers and viewers, which are the best motivation for further work.
Tomasz Stec
Managing partner in the Warsaw office of Simon-Kucher & Partners
An expert with more than 15 years of experience in managing promotions, optimizing loyalty programs, optimizing regular pricing (including dynamic pricing) and designing decision support tools (including machine learning). At Simon-Kucher & Partners, he leads the retail and consumer goods practice in Central and Eastern Europe, helping organizations increase their revenues and profits. He has led more than 100 projects in Poland, the Czech Republic, Slovakia, Slovenia, Romania and Russia, among others.
Artur Staniec
Managing director in the Warsaw office of Simon-Kucher & Partners
He is responsible for the B2B area in Poland and Central and Eastern Europe. He has more than 15 years of professional experience in consulting. During this time, he has completed more than 100 projects in the field of strategy, marketing and price management in the CEE region. He is the author of a number of publications. He is a regular guest speaker at domestic and international events.
Grzegorz Furtak
Expert in pricing and monetization strategies
Founder of pricingLAB, a consulting firm specializing in pricing. This is how he describes himself: "I help B2B, B2C clients generate more revenue from their prices through pricing optimization based on advanced numerical and behavioral analysis." As part of his consulting and training activities, he has implemented pricing optimization projects for, among others: Inter Cars, Auto Land, Animex, Michelin, Maspex, Topex Group, Investa, Schneider Electric, Sieć Sklepów Topaz, PBS Connect, Żabka, Lewiatan, Apteki Codzienna, Polski Lek, Media Expert, I Love Marketing, Bat Grupa PSB, Unisoft, Astor, Sidly, Orphica.
Conference program
- Shocks and uncertainties: continuity and new disruptions
- 11 supply shocks for 2023
- Strategic implications of trends and shocks for companies operating in Poland
- Flexible revenue and cost management under uncertainty
- Inflation highest in decades - how did it happen?
- Are we facing a recession?
- Impact of central banks' decisions on the economy and markets
- Will the zloty get even weaker?
- Challenges for business in the context of high inflation
How to maximize profit?
- How does inflation affect companies and why is it especially important to be nimble now?
- Objectives of operations in an inflationary environment
- What role do the three levers of profit play in inflation: price, revenue, and costs?
- What is Pricing Power and why is it important?
- What does inflation mean for sales forces?
- Reasons for failure in pricing in times of high inflation
- Effectively methods to translate cost increases to customers
- Pricing tools to help raise prices
- How does inflation affect customer buying behavior?
- The logic of pricing based on price sensitivity
- Effective implementation of price increases
- Off-price margin defense methods: shrinkflation, cheaper choice options, unbundling
- Challenges for pricing processes in an era of inflationary pressures