Driving growth with new products: common pricing traps to avoid

Driving growth with new products: common pricing traps to avoid Purpose – The purpose of this article is to reveal several issues surrounding old style twentieth century pricing traps that need to be overcome in the twenty‐firt century global economy and expanding internet marketplace. Design/methodology/approach – The information on which this article is based derives from the authors' experience and expertise advising and supporting companies of all sizes over many years. There is further evidence from surveys done by a professional association. Findings – Pricing is vital component to revenue and profit success and needs to be a functional lever for every company. Practical implications – Whether introducing new products/services or upgrades to existing products/services, better revenue/profit margins can be accomplished by establishing a viable and value‐based pricing strategy. Original/value – Pricing strategy is an essential element for doing business successfully in the global marketplace. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Business Strategy Emerald Publishing

Driving growth with new products: common pricing traps to avoid

Journal of Business Strategy, Volume 27 (1): 5 – Jan 1, 2006

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Publisher
Emerald Publishing
Copyright
Copyright © 2006 Emerald Group Publishing Limited. All rights reserved.
ISSN
0275-6668
DOI
10.1108/02756660610640182
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this article is to reveal several issues surrounding old style twentieth century pricing traps that need to be overcome in the twenty‐firt century global economy and expanding internet marketplace. Design/methodology/approach – The information on which this article is based derives from the authors' experience and expertise advising and supporting companies of all sizes over many years. There is further evidence from surveys done by a professional association. Findings – Pricing is vital component to revenue and profit success and needs to be a functional lever for every company. Practical implications – Whether introducing new products/services or upgrades to existing products/services, better revenue/profit margins can be accomplished by establishing a viable and value‐based pricing strategy. Original/value – Pricing strategy is an essential element for doing business successfully in the global marketplace.

Journal

Journal of Business StrategyEmerald Publishing

Published: Jan 1, 2006

Keywords: Pricing; Product development; Business development; Pricing policy; Asset valuation; Risk management

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