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Price-setting strategies and practice for medical devices used by consumers

Author

Listed:
  • Yin Yu Lum Gousgounis

    (ISM International School of Management)

  • Michael Neubert

    (ISM International School of Management)

Abstract

Advancements in technologies, emphasis on preventive care, and increased health awareness led to a growing market of home health medical devices. This study examines how and why price-setting strategies are established for Home Health and Direct to Consumer (HHDTC) medical devices using a multiple case study methodology based on eleven SME interviews as primary data source. The theoretical framework of Neubert (Cent Eur Bus Rev 6(3):41–50, 2017a) is used for this study. Study results suggest that mainly market-based price-setting strategies and competition-informed price-setting practices and to a lesser extent value-informed price-setting practices are used for pricing decisions of innovative HHDTC medical devices.

Suggested Citation

  • Yin Yu Lum Gousgounis & Michael Neubert, 2020. "Price-setting strategies and practice for medical devices used by consumers," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 19(3), pages 218-226, June.
    • Handle: RePEc:pal:jorapm:v:19:y:2020:i:3:d:10.1057_s41272-019-00220-7
    DOI: 10.1057/s41272-019-00220-7
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    References listed on IDEAS

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