Pricing Decisions
The concept provides an overview of Pricing - one of the most important marketing mix decisions. It offers a full description of the six steps which can be used as guidelines for implementing pricing decisions, and also offers well-documented examples.
Technique Overview
Pricing Decisions Definition
To provide a satisfying marketing-mix, companies must set a price that is acceptable to target market members (Pride and Ferrell, 2011). Price is the value paid for a product or service in the market, it is a key element in the marketing-mix and one that generally is the only variable that can be quickly changed to react to market changes such as competitor actions or demand variations, for example.
Pricing Decisions Description *
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Business Evidence
Strengths, weaknesses and examples of Pricing Decisions *
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Business Application
Implementation, success factors and measures of Pricing Decisions *
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Professional Tools
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Further Reading
Pricing Decisions web and print resources *
Pricing Decisions references (4 of up to 20) *
- Abell, J.C. (2010) Panacea or Poison Pill: Who Gets to Decide About $10e-books?. Wired, 5 February. Available at: www.wired.com/epicenter/2010/02/panacea-or-poison-pill-who-gets-to-decide-about-the-10-e-book/ [Accessed: 19 December 2011].
- Adamson, A. (2011) Only Experience Will Determine Whether Netflix Remains A Star Brand. Forbes, 18 July. www.forbes.com/sites/allenadamson/2011/07/18/boo-hiss-when-the-shouting-stops-only-experience-will-determine-whether-netflix-keeps-its-status-as-a-star-brand/ [Accessed: 19 Dec 2011].
- Amed, I. (2009) Power of Pricing: Exchange Rates Blamed for Price Differences. FT.com, 15 June. Available at: www.ft.com/intl/cms/s/0/3ce32f72-56e9-11de-9a1c-00144feabdc0.html#axzz1hrofR500 [Accessed: 19 December 2011].
- Bridge, J. and Dodds, J.C. (1975) Managerial Decision Making. Taylor and Francis.
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