Successful New Product Pricing Practices: A Contingency Approach
Abstract
The purpose of this study is to examine the success of new product pricing practices and the conditions upon which success is contingent. We distinguish three different pricing practices that refer to the use of information on customer value, competition, and costs respectively. Following Monroe's (1990) price discretion, we argue that the success of these practices is contingent on relative product advantage and competitive intensity. The hypotheses are tested on pricing decisions for new industrial products. Our results show that there are no general "best" or "bad" practices, but that a contingency approach is appropriate. These results may help reduce the complexity that managers experience in pricing new products.Download Info
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Article provided by Springer in its journal Marketing Letters.
Volume (Year): 14 (2003)
Issue (Month): 4 (December)
Pages: 289-305
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Handle: RePEc:kap:mktlet:v:14:y:2003:i:4:p:289-305
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Web page: http://www.springerlink.com/link.asp?id=100312
For corrections or technical questions regarding this item, or to correct its listing, contact: (Guenther Eichhorn) or (Christopher F. Baum).
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Rajagopal, 2005. "Measuring Customer Value Gaps: An Empirical Study in Mexican Retail Market," Econometrics 0508012, EconWPA.
- Rajagopal, 2006.
"Measuring customer value and market dynamics for new products of a firm: an analytical construct for gaining competitive advantage,"
Global Business and Economics Review,
Inderscience Enterprises Ltd, vol. 8(3), pages 187-205, January.
- Rajagopal, 2005. "Measuring Customer Value and Market Dynamics for New Products of a Firm:An Analytical Construct for Gaining Competitive Advantage," Econometrics 0502012, EconWPA.
- Rajagopal, 2006. "Influence of Advertising Variability, Brand Extension Effects, Brand Name, Variety Seeking Behavior and Customer Value on Buying Decisions: A Multi-experiment Analysis," Marketing Working Papers 2006-01-MKT, Tecnológico de Monterrey, Campus Ciudad de México.
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