Substantiation of Price Decisions in a Crisis Context

Vasile Deac (), Mihai Vrîncuþ (), Oana Pãun and Irina Raicu
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Vasile Deac: The Bucharest University of Economic Studies, Romania
Mihai Vrîncuþ: The Bucharest University of Economic Studies, Romania
Oana Pãun: The Bucharest University of Economic Studies, Romania
Irina Raicu: The Bucharest University of Economic Studies, Romania

REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 2013, vol. 14, issue 1, 33-42

Abstract: In this article the authors aim to address key issues regarding pricing decision substantiation in a crisis context and to create an overview of the elements that should underlie such substantiation. We can say that making price decisions is both a science and an art, based on precise calculations and sound economic reasoning. But, especially in a crisis context, such reasoning and calculations should not exclude intuition, flair, hunches, and experience and so on, all instruments belonging to the art of management. A solid reasoning assumes that those involved ask the right questions and understand all the factors that determine the success of some price decisions and failure of others.

Keywords: relevant costs; irrelevant costs; perceived value; total sacrifice; price war. (search for similar items in EconPapers)
JEL-codes: D23 D24 M21 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:rom:rmcimn:v:14:y:2013:i:1:p:33-42

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