IDEAS home Printed from https://ideas.repec.org/h/spr/mgmchp/978-981-99-5253-3_8.html
   My bibliography  Save this book chapter

Pricing Strategies in a Dynamic Market

In: Strategic Management Accounting in a Network Economy

Author

Listed:
  • Wingsun Li

    (Beijing Normal University & Hong Kong Baptist University—United International College)

Abstract

Setting prices is a complex decision-making process that involves various factors. It requires defining price objectives, understanding market segments, predicting market responses from competitors and customers, evaluating internal constraints such as costs or capacity, and considering the short-term and long-term financial implications. Price decisions can have both complementary and substitutional impacts on other sectors of a business. However, firms are not entirely free to determine prices as they are influenced by market forces and internal limitations. This chapter aims to discuss the strategic role of pricing in competitive markets, and provides a comprehensive understanding of the complexities and dynamics of pricing strategies and their implications for businesses. In particular, it explores major pricing strategies, including cost-based pricing, market-based pricing, and value-based pricing. Also, it examines the popularity of dynamic pricing as a short-term strategy. Value-based pricing, despite its significant interest in academic and practical contexts, has seen limited actual application compared to cost-based and market-based strategies. The chapter also explores the factors that constrain managerial discretion in pricing decisions.

Suggested Citation

  • Wingsun Li, 2023. "Pricing Strategies in a Dynamic Market," Management for Professionals, in: Strategic Management Accounting in a Network Economy, chapter 0, pages 183-209, Springer.
    • Handle: RePEc:spr:mgmchp:978-981-99-5253-3_8
    DOI: 10.1007/978-981-99-5253-3_8
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    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:spr:mgmchp:978-981-99-5253-3_8. 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.

    We have no bibliographic references for this item. You can help adding them by using 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.springer.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.