Pricing by intuition: Managerial choices with limited information

Alexander Rusetski

Journal of Business Research, 2014, vol. 67, issue 8, 1733-1743

Abstract: In making pricing decisions, managers can chose from several pricing strategies. To ensure long-term business success, pricing choices need to balance numerous requirements, from revenue streams to keeping customers happy. The complexity of pricing decisions and time pressures that often accompany them prompt the need for fast, simplified decision algorithms. The present exploratory study examines the ways in which considerations of price fairness and competitive strategy combine in managers' decisions regarding the price level.

Keywords: Pricing; Pricing strategies; Decision-making; Heuristics; Brand strength; Cluster analysis (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:67:y:2014:i:8:p:1733-1743

DOI: 10.1016/j.jbusres.2014.02.020

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