THE STRATEGY AND TACTICS OF PRICING (original) (raw)

Innovative Pricing Strategies: A Primer

SSRN Electronic Journal

This article demonstrates how various concepts derived from marketing and behavioral economics can be useful to accountants and others whose advice is sought on the setting of prices. In particular, it shows that a one-price policy may not always be ideal. Using price as a strategic tool can increase both profit and customer satisfaction. Pricing strategies discussed include segmented (tier) pricing, pay-what-you-want pricing, pricing digital products, and peak-user pricing. The ethical implications of pricing decisions are also discussed.

The Strategy and Tactics of Pricing: A Guide to Profitable Decision Making

Journal of Revenue and Pricing Management, 2002

In mid 2017, a special issue on Implementing Pricing Strategies will be guest edited by Dr. Andreas Hinterhuber. We would like to invite the scientific and practicing community to submit papers by 30 November 2016 in order to be considered for publication.

Pricing as a strategic capability

MIT Sloan …, 2002

For too long, most people who run companies have made a variety of unwarranted but detrimental assumptions about pricing. Changing prices, for example, has been looked upon as an easy, quick and reversible process, and new technologies have only reinforced this way ...

Pricing Strategies in Marketing

2008

Price is one of the marketing mix elements which can mean many things to the consumer about a product. These include many concepts such as quality, prestige, performance, and durability. This study examines pricing strategies that can be applied in the market conceptually.

Strategic Pricing of New Products and Services

Handbook of Pricing Research in Marketing, 2009

This chapter organizes and reviews the literature on new product pricing, with a primary focus on normative models that take a dynamic perspective. Such a perspective is essential in the new product context, given the underlying demand-and supply-side dynamics and the need to take a long-term, strategic, view in setting pricing policy. Along with these dynamics, the high levels of uncertainty (for fi rms and customers alike) make the strategic new product pricing decision particularly complex and challenging. Our review of normative models yields key implications that provide (i) theoretical insights into the drivers of dynamic pricing policy for new products and services, and (ii) directional guidance for new product pricing decisions in practice. However, as abstractions of reality, these normative models are limited as practical tools for new product pricing. On the other hand, the new product pricing tools available are primarily helpful for setting specifi c (myopic) prices rather than a dynamic long-term pricing policy. Our review and discussion suggest several areas that offer opportunities for future research. * Comments and suggestions from Vithala R. Rao, Jehoshua Eliashberg and an anonymous reviewer are gratefully acknowledged. 1 Noble and Gruca's study is not limited to new products. They organize the strategies by the pricing situation for both new and mature products and then, for strategies within each pricing situation, by the conditions expected to favor the choice of a particular strategy. The three new product strategies were chosen by 32 percent of all respondents across all situations (skimming 14 percent, penetration 9 percent, and experience curve pricing 11 percent).

Various Pricing Strategies : A Review

2018

The current paper reviews various pricing strategies adopted by the modern businesses. It further states various merits and demerits of each of the pricing strategies. The main objective of the paper is to compile some of the popular pricing strategies and their pros and cons at one place. The topic not only relates to marketing management but also extends to managerial economics. The paper has been classified into six parts. The first section introduces the purpose of the paper. The second section examines the importance of the pricing strategies. The third section describes the main objectives behind pricing strategies. The fourth section explains various pricing strategies whereas the next section discusses advantages and disadvantages of various pricing strategies. The paper ends with a conclusion about how the businesses should select the most suitable pricing strategy for themselves.

Modeling Pricing Policy Systems: A Primer for Making Better Pricing Decisions in Business Marketing

Pricing strategy includes making choices of specific prices and price discount policies for specific products and customers in specific time periods and purchase/competitive situations; a pricing strategy is related to fulfilling multiple objectives, including profit, sales, market share, and customer trial and/or retention. This paper includes an examination of two key issues on price decisions: (1) how should price decisions be made (the normative issue), and (2) how are price decisions actually made (the ecological issue). Implications for improving pricing decisions are included in the discussions of both normative and ecological issues. The paper closes with some observations useful for applied research and strategies for making better pricing decisions.