Making pricing decisions

This book presents a comprehensive analysis of the relationship between the market environment and the pricing process. It applies a contingency approach to the subject, emphasizing both the organizational and environmental factors which influence price decision making. The authors explore the primary price-related issues: price organization; pricing objectives; pricing methods; price administration; price changes; price volume relationships; new product pricing; price and the marketing mix; price and industry structure; and price differentials at a detailed product-level, rather than taking a broader corporate overview. Their conclusions are drawn from an intensive study of pricing practice and attitudes in a large multi-product firm with extensive reference to the international, multi-disciplinary literature on pricing. Making Pricing Decisions: A study of managerial practice takes the study of pricing beyond theory, offering invaluable insight into the practice of pricing and suggests managerially-based guidelines based on rigorous research. The breadth of its approach makes it directly relevant not only to marketing academics and students, but also to those in applied economics, managerial economics, microeconomics, business policy and finance. Its focus on pricing in practice also makes it essential reading for managers.