Pricing

Merlin Stone

Chapter 10 in Marketing and Economics, 1980, pp 118-131 from Palgrave Macmillan

Abstract: Abstract Pricing policies affect the performance of individual products and businesses and are also symptomatic of and may determine market structure. Economic analysis of pricing policy starts by analysing the effect of price on the quantity demanded (the price elasticity of demand). Because the quantity demanded is related to the quantity produced, and because unit costs may be affected by the quantity produced, price changes may lead to cost changes. Since most firms face competition of some kind, price changes on the part of one firm may provoke response from other firms, either in the form of of price changes or changes in other elements of the marketing mix. The net effect of a price change (taking into account cost changes and competitive interaction) is evaluated in terms of the firm’s business aims.

Keywords: Price Change; Price Policy; Price Discrimination; Transfer Price; Limit Price (search for similar items in EconPapers)
Date: 1980
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-16426-4_10

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DOI: 10.1007/978-1-349-16426-4_10

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