Behavioral issues in price setting in business-to-business marketing: a framework for analysis

Iyer, G.R.; Xiao, S.; Sharma, A.; Nicholson, M.

Abstract

Business-to-business pricing research has often focused on developing rational and normative frameworks and models for pricing issues, strategies and tactics. However, there has been less attention given to behavioral models that help us understand the realities of pricing and how managers actually set prices. Specifically, there has been less attention given to the various individual and group influences on the price setting process. We apply insights from a steadily increasing body of literature on behavioral decision making to identify some relevant behavioral issues that may affect managerial price setting processes in business-to-business contexts. We conclude with some implications for theory building and practice and an agenda for future research.

Citation

Iyer, G., Xiao, S., Sharma, A., & Nicholson, M. (2015). Behavioral issues in price setting in business-to-business marketing: a framework for analysis. Industrial Marketing Management, 47, 6-16. https://doi.org/10.1016/j.indmarman.2015.02.001

• Journal Article Type: Article
• Acceptance Date: Nov 20, 2014
• Publication Date: May 1, 2015
• Deposit Date: Feb 12, 2015
• Publicly Available Date: Feb 16, 2015
• Journal: Industrial Marketing Management
• Print ISSN: 0019-8501
• Electronic ISSN: 1873-2062
• Publisher: Elsevier
• Peer Reviewed: Peer Reviewed
• Volume: 47
• Pages: 6-16
• DOI: https://doi.org/10.1016/j.indmarman.2015.02.001
• Keywords: Business-to-business pricing, Price setting, Industrial pricing decisions, Behavioral bias in pricing.
• Public URL: https://durham-repository.worktribe.com/output/1414758