#ZucchettiTalent - Best practices in pricing strategies

Interview with Lukas Adt, M.A. in Management

In Zucchetti, our team represents our essential human capital.  We consider the people behind our activities our most efficient assets, and the resources we put all our trust in. We believe in their competence and commitment. Company culture is extremely important to us, we believe in the process of learning from one another, and simply having different approaches to different subjects is something we find extremely beneficial.

With this in mind, we recently launched a new project: #ZucchettiTalent, a collection of interviews to members of our team, with the objective of sharing different insights regarding our business and presenting the people behind it. Our intent is to ask questions to students and others who have published works regarding different aspects of Zucchetti, or have dealt with business-relevant matters, showing a glimpse into how younger talents can bring new and different ideas to the group.

The first interview was conducted with one of our newer employees, Lukas Adt, who wrote his master thesis on the pricing strategy within the company.

What was the motivation for choosing this topic?

Well, I thought, whether in my preferred supermarket, fashion store, bakery or butcher’s shop, prices are everywhere! They also appear in my daily work-life. Especially working in sales, you are dealing with prices, discounts and negotiations. So, I was curious where our prices are coming from and what are the idea and the calculation behind it. If a salesperson knows how a price was designed, they can explain and defend it in a much more efficient way. Information is the key here.

What are the differences regarding pricing between B2B and B2C?

Here, I want to point out emotion. When acting in our business environment, we are far less driven by our feelings than in a more private environment. That is one of the reasons why the pricing is very different. There are many studies about the impact of the actual numbers you use for a price. That’s why you find a lot of prices like 1.99 €, 19.98 € and 987 €. These schemes are not really used in B2B due to several reasons like net pricing and so on.

You mentioned that sales colleagues are dealing with prices every day – in what way is it a part of your work?

The right pricing is of importance in every project. Different starting points require different approaches though. For example, when preparing an offer for a customer that wants an update for his POS system, you will use a set pricelist and you will not spend a lot of time negotiating and discussing prices. That is where it gets interesting: is the POS system worth the same for a caterer that uses it every day as for a stadium that works with it only twenty days a year? So, do we need to apply distinct prices depending on business since our effort is different as well? It is a very complex topic and I learn something new every day.

Is pricing a management task at Zucchetti?

Well, that is hard to answer. If you would want a “yes or no”, I would say yes. Only a smaller group of people in the company is involved in the process of finding and setting the right prices. As mentioned before, I believe that every sales colleague needs to know about the process of defining the prices, the calculations and margins connected to it. If we know about the details, we know how to build up the argumentation and to decide in the best way for the company as well. All of my colleagues are highly trained and skilled professionals who are selling solutions to the customers. When you feed your salespeople with information, they will pay you back with turnover and profit.

What’s the most interesting challenge for Zucchetti when it comes to pricing?

We are a thoroughly international company that is present in lots of different countries. Finding a reasonable solution for all the countries we operate in is a challenging yet an interesting and surely exciting task. Not only because we have a broad product portfolio that we sell in various countries – but also because we are a fast-growing group, which means always evolving and adapting our pricing to new products, markets and countries.

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