IDEAS home Printed from https://ideas.repec.org/a/pal/jorapm/v19y2020i3d10.1057_s41272-019-00220-7.html
   My bibliography  Save this article

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
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/s41272-019-00220-7
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1057/s41272-019-00220-7?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Chenavaz, Régis, 2012. "Dynamic pricing, product and process innovation," European Journal of Operational Research, Elsevier, vol. 222(3), pages 553-557.
    2. Adam Copeland & Adam Hale Shapiro, 2016. "Price Setting and Rapid Technology Adoption: The Case of the PC Industry," The Review of Economics and Statistics, MIT Press, vol. 98(3), pages 601-616, July.
    3. Wu, Paul C.S. & Yeh, Gary Yeong-Yuh & Hsiao, Chieh-Ru, 2011. "The effect of store image and service quality on brand image and purchase intention for private label brands," Australasian marketing journal, Elsevier, vol. 19(1), pages 30-39.
    4. Daphne Nicolitsas, 2016. "Price Setting Practices In Greece: Evidence From A Small-Scale Firm-Level Survey," Bulletin of Economic Research, Wiley Blackwell, vol. 68(4), pages 367-382, October.
    5. Luqman Olawale & Okewale Joel, 2017. "Factors Influencing Pricing Decision: Evidence from Non-Financial Firms in Nigeria," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 13(1), pages 157-172, February.
    6. Uy, Marilyn A. & Foo, Maw-Der & Song, Zhaoli, 2013. "Joint effects of prior start-up experience and coping strategies on entrepreneurs’ psychological well-being," Journal of Business Venturing, Elsevier, vol. 28(5), pages 583-597.
    7. Chandrashekaran, Rajesh & Grewal, Dhruv, 2006. "Anchoring effects of advertised reference price and sale price: The moderating role of saving presentation format," Journal of Business Research, Elsevier, vol. 59(10-11), pages 1063-1071, October.
    8. Michael Neubert, 2017. "International Pricing Strategies for Born-Global Firms," Central European Business Review, Prague University of Economics and Business, vol. 2017(3), pages 41-50.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bhuiyan, Muhammad Faress & Ivlevs, Artjoms, 2019. "Micro-entrepreneurship and subjective well-being: Evidence from rural Bangladesh," Journal of Business Venturing, Elsevier, vol. 34(4), pages 625-645.
    2. Przemyslaw Zbierowski, 2015. "Positive Entrepreneurship: Antecedents and Outcomes of Entrepreneurship within Positive Organizational Scholarship (Przedsiebiorczosc pozytywna – przyczyny i rezultaty przedsiebiorczosci z zakresu poz," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 13(56), pages 38-54.
    3. Wei Peng & Baogui Xin & Yekyung Kwon, 2019. "Optimal Strategies of Product Price, Quality, and Corporate Environmental Responsibility," IJERPH, MDPI, vol. 16(23), pages 1-24, November.
    4. Martins, José & Costa, Catarina & Oliveira, Tiago & Gonçalves, Ramiro & Branco, Frederico, 2019. "How smartphone advertising influences consumers' purchase intention," Journal of Business Research, Elsevier, vol. 94(C), pages 378-387.
    5. Yosr Ben Tahar & Nada Rejeb & Adnane Maalaoui & Sascha Kraus & Paul Westhead & Paul Jones, 2023. "Emotional demands and entrepreneurial burnout: the role of autonomy and job satisfaction," Small Business Economics, Springer, vol. 61(2), pages 701-716, August.
    6. Ni, Jian & Zhao, Jun & Chu, Lap Keung, 2021. "Supply contracting and process innovation in a dynamic supply chain with information asymmetry," European Journal of Operational Research, Elsevier, vol. 288(2), pages 552-562.
    7. Manchiraju, Srikant, 2020. "Psychometric evaluation of the Ryff’s Scale of psychological wellbeing in self-identified American entrepreneurs," Journal of Business Venturing Insights, Elsevier, vol. 14(C).
    8. Chenavaz, Régis Y. & Leocata, Marta & Ogonowska, Malgorzata & Torre, Dominique, 2022. "Sustainable tourism," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    9. Luca Grosset & Bruno Viscolani, 2020. "Decisions on production and quality," Decisions in Economics and Finance, Springer;Associazione per la Matematica, vol. 43(1), pages 91-107, June.
    10. van Hugten, Joeri & el Hejazi, Zainab-Noor & Brassey, Jacqueline & Vanderstraeten, Johanna & Cannaerts, Nele & Loots, Ellen & Coreynen, Wim & van Witteloostuijn, Arjen, 2021. "What Makes Entrepreneurs Happy? Psychological Flexibility and Entrepreneurs' Satisfaction," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
    11. Chen, Lu & Li, Yong-Quan & Liu, Chih-Hsing, 2019. "How airline service quality determines the quantity of repurchase intention - Mediate and moderate effects of brand quality and perceived value," Journal of Air Transport Management, Elsevier, vol. 75(C), pages 185-197.
    12. Mirosław Jarosiński & Krystian Barłożewski, 2019. "Differences in Strategies between Rapidly and Gradually Internationalising Polish Firms," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 69(supplemen), pages 163-189, December.
    13. Dean A. Shepherd & Holger Patzelt, 2015. "Harsh Evaluations of Entrepreneurs Who Fail: The Role of Sexual Orientation, Use of Environmentally Friendly Technologies, and Observers' Perspective Taking," Journal of Management Studies, Wiley Blackwell, vol. 52(2), pages 253-284, March.
    14. Chunlin Yuan & Shuman Wang & Yue Liu, 2023. "AI service impacts on brand image and customer equity: empirical evidence from China," Journal of Brand Management, Palgrave Macmillan, vol. 30(1), pages 61-76, January.
    15. Kukla-Gryz Anna & Zagórska Katarzyna, 2017. "The effects of individual internal versus external reference prices on consumer decisions for pay-what-you-want payments," Central European Economic Journal, Sciendo, vol. 4(51), pages 1-17, December.
    16. S. Hati & K. Maity, 2023. "Product process innovation model of fuzzy optimal control of nonlinear system with finite time horizon under granular differentiability concept," OPSEARCH, Springer;Operational Research Society of India, vol. 60(2), pages 753-775, June.
    17. Garaus, Marion & Wolfsteiner, Elisabeth & Wagner, Udo, 2016. "Shoppers' acceptance and perceptions of electronic shelf labels," Journal of Business Research, Elsevier, vol. 69(9), pages 3687-3692.
    18. Acquila-Natale, Emiliano & Iglesias-Pradas, Santiago, 2021. "A matter of value? Predicting channel preference and multichannel behaviors in retail," Technological Forecasting and Social Change, Elsevier, vol. 162(C).
    19. Kautonen, Teemu & Kibler, Ewald & Minniti, Maria, 2017. "Late-career entrepreneurship, income and quality of life," Journal of Business Venturing, Elsevier, vol. 32(3), pages 318-333.
    20. Simon Coulombe & Marcus Dejardin & Sylvain Luc, 2022. "Covid or not Covid? Psychological Distress and Entrepreneurial Intentions among Canadian Workers during the Pandemic," Post-Print halshs-03659225, HAL.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jorapm:v:19:y:2020:i:3:d:10.1057_s41272-019-00220-7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.