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Defining Aspects Of Setting The Price According To The Customer And The Competition

Author

Listed:
  • Adrian MICU

    (Dunarea de Jos University, Galati, Romania)

Abstract

Few managers, even those specializing in marketing, think strategically about pricing. Consider your experiences and observations. Were the pricing decisions you encountered made in reaction to a pricing problem, or were they planned to exploit an opportunity? Did the company arrive at those decisions by analyzing only the immediate impact on profitability, or did it also consider how the reactions of customers or competitors might change the picture? Did the decisions focus purely on price, or did they involve alignment of a marketing program to support the pricing decision? Few companies proactively manage their business to create the conditions that foster more profitable pricing.

Suggested Citation

  • Adrian MICU, 2006. "Defining Aspects Of Setting The Price According To The Customer And The Competition," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 4(1), pages 123-125, November.
    • Handle: RePEc:aio:manmar:v:4:y:2006:i:1:p:123-125
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    More about this item

    Keywords

    pricing strategy; customer driven pricing; competition driven pricing;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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