December 2010- The European Pricing Platform announces with great pleasure the new winner of the Best European Pricing Master Thesis Award 2009-2010.
With his thesis “Barriers to Value Based Pricing Strategies within Irish Small to Medium Sized Enterprises: A Quantitative Survey Analysis”, Eoin Healy – Dublin City University Business School – convinced our jury that he had the most complete pricing thesis of the other 6 theses that were selected. Eoin won a € 500,00- cash reward, a bundle of books worth € 75,00- a free ePP training of his choice valued at € 1.500,00- and free ePP participation for 12 months worth € 395,00- .
The jury motivated their choice as following: “Very professional thesis with clear steps in study design that is straight in our core business. The methods and objectives are well formulated and the thesis has a really scientific methodology. In general the thesis gives a valuable empirical contribution to the value of pricing research.”
The motivation of Eoin to dedicate his thesis to pricing topic came from the lack of time contributed to pricing during his masters in Marketing, as opposed to branding, distribution strategies or buyer behaviour. Eoin says: “ I found this odd as I had read about the power of pricing in terms of the profitability of a firm. So I begun researching the topic of pricing within academic databases and of course on the web. This is how I came to find the ePP and its pricing thesis award.” By knowing that there was a competition to enter Eoin made his definite choice to devote his thesis to pricing.
The reason why Eoin choose to provide a piece of literature for Small and Medium Sized business within Ireland, was because they make up the majority of business types within the Irish market. His study highlighted both the importance of value based pricing to them while at the same time pointed to reasons, or barriers, why they might not yet be using value based pricing strategies. Therefore Eoin says: “I felt it would be most appropriate to analyse them in the interest of the larger Irish economic context. Through research, value based pricing was picked as my strategy of choice due to the fact that it is said to result in greater profitability to the firm and it can ultimately result in a sustainable competitive advantage!”
At the finish of his thesis Eoin concluded that there is still so much to learn on pricing in the whole marketing community, but particularly also amongst the academics. They should revisit how important pricing actually is as an element of the marketing mix and spend much more time on sharing information and knowledge about it.
Eoin finishes with an important conclusion: “Pricing I believe is one of the most frightful and misunderstood elements in most marketers toolbox and it is only through learning more about pricing that we will over come that fear. This I feel, is where organisations such as the EPP can help.”