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Orientation to Value in Substantiation of Price Strategy - A New Approach of the Modern Enterprise

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  • Cristian - Marian Barbu

Abstract

Price can be considered a source of messages, set up in clues relating to the characteristics of the product it targets. How these messages are received, coded and interpreted by consumers should be a major preoccupation for decision-makers. If it knows the perception of the price, the enterprise can harness its psychological potential. In justification of the decisions, the enterprise should adopt a proactive vision enabling anticipation of competition or customers at the prices charged by it. Strategic marketing planning must act in such a way to effectively manage the uncertainty that governs decisions concerning the price. The provider should focus on the value offered to consumers, the concept around which should gravitate the marketing strategy of the enterprise. Priority orientation towards costs at the expense of focus on the market does not allow for proactive price management. In this context, the need to consider the concept of value before anything else.

Suggested Citation

  • Cristian - Marian Barbu, 2015. "Orientation to Value in Substantiation of Price Strategy - A New Approach of the Modern Enterprise," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 1(2), pages 44-55, June.
    • Handle: RePEc:khe:scajes:v:1:y:2015:i:2:p:44-55
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    References listed on IDEAS

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    1. Marc Vanhuele & X. Drèze, 2002. "Measuring the Price Knowledge Shoppers Bring to the Store," Post-Print hal-00457563, HAL.
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    Keywords

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    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • D10 - Microeconomics - - Household Behavior - - - General
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design

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