Abstract
In many companies pricing decisions are made without profound understanding of the likely response of the buyers and competitors. These companies do not conduct pricing research and as a result do not have a serious pricing strategy in a marketing sense. They rather have something that could be called an intuitive pricing strategy. Several studies indicate that only 8% to 15% of the companies conduct serious pricing research to develop effective pricing strategies (Monroe and Cox, 2001). Other studies have shown that 49.9% of the surveyed companies adjust prices once or less in a typical year. Further, only 13% of the prices that were changed were a result of a scheduled review of the current pricing policy (Monroe, 2003, p. 19).
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© 2006 Deutscher Universitäts-Verlag | GWV Fachverlage GmbH, Wiesbaden
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(2006). Measuring Willingness-to-Pay. In: Estimation of Willingness-to-Pay. DUV. https://doi.org/10.1007/978-3-8350-9244-0_4
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DOI: https://doi.org/10.1007/978-3-8350-9244-0_4
Publisher Name: DUV
Print ISBN: 978-3-8350-0399-6
Online ISBN: 978-3-8350-9244-0
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