1. Thinking strategically about pricing decisions.
- Author
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Piercy, Nigel F., Cravens, David W., and Lane, Nikala
- Subjects
PRICING ,ECONOMIC competition ,INDUSTRIAL management ,UNITED States economy ,PROFITABILITY ,CONSUMERS ,DECISION making ,RECESSIONS ,ECONOMICS - Abstract
The article focuses on the importance of pricing strategy as a tool to become competitive with other firms in a recession in the U.S. and Great Britain. The firm needs to analyze the value of the product to be able to make the appropriate pricing. It highlights the procedures of making a strategic pricing decision such as the impact of the price to the customers and competitors, and the challenges in raising prices. The strategic pricing has been viewed relevant since this affects the profitability of the firm.
- Published
- 2010
- Full Text
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