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Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Price Performance

Price Performance
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Copyright: 2013
Pages: 20
Source title: Marketing Decision Making and the Management of Pricing: Successful Business Tools
Source Author(s)/Editor(s): Dr. Rajagopal (EGADE Business School, Tecnologico de Monterrey (ITESM), Mexico)
DOI: 10.4018/978-1-4666-4094-8.ch008

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Abstract

Strategic pricing is one of the most powerful sources of profits and growth. Yet, in recent years, it has been the least exploited driver of shareholder value. Few manufacturers review their pricing systematically, most set prices reactively. Some extrapolate from history, and for others it is just a hunch. This chapter examines the market structure of information goods and its implications for competitive pricing strategy. It focuses on several approaches to overcoming commoditization: personalizing products and prices and establishing group rates. This chapter argues that price performance is dependent on various interrelated factors in a firm. Most management tools and techniques that are applied in optimizing returns on price have long-term strategic orientation in a firm. Firms need to implement pricing strategies in association with many interrelated factors including the design of the price offerings, employee management, consumer management, and the channel management. The core discussion in the chapter provides an overview for developing pricing capabilities in the competitive marketplace. Major topics discussed in this chapter include enhancing price performance, price sensitivity and sales promotions, price impact on profits, and developing pricing decision under market uncertainties.

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