Abstract

http://ssrn.com/abstract=472641
 
 

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Shattering the Myth of Costless Price Changes: Emerging Perspectives on Dynamic Pricing


Mark E. Bergen


University of Minnesota - Carlson School of Management

Shantanu Dutta


University of Southern California - Marshall School of Business

Daniel Levy


Bar-Ilan University - Department of Economics; Emory University - Department of Economics; Rimini Center for Economic Analysis

Mark Ritson


London Business School

Mark Zbaracki


University of Western Ontario - General Management Area Group


European Management Journal, December 2003

Abstract:     
In this paper, we argue that pricing is all about price changes, and that the costs of price changes are often simultaneously subtle and substantial. We discuss a framework to deal with the dynamics of changing prices. This framework incorporates customer interpretations of price changes, an awareness of the organizational costs of price changes, investments in future pricing processes, and an understanding of the role that supply chains play in price change strategy. The framework can be used at the tactical level to improve the specific price changes chosen and made, at the managerial level to decide whether or not to make a particular price change at all, and at the strategic level to determine what price adjustment processes should be invested in to improve pricing effectiveness in the future.

Number of Pages in PDF File: 22

Keywords: Pricing, price setting, price adjustment, cost of price adjustment, price change management, investment in pricing processes, supply chains, customer costs of price adjustment

JEL Classification: M31, M10, M20, L11, L16, E31, D40, D20

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Date posted: February 9, 2004  

Suggested Citation

Bergen, Mark E. and Dutta, Shantanu and Levy, Daniel and Ritson, Mark and Zbaracki, Mark, Shattering the Myth of Costless Price Changes: Emerging Perspectives on Dynamic Pricing. European Management Journal, December 2003. Available at SSRN: http://ssrn.com/abstract=472641

Contact Information

Mark E. Bergen
University of Minnesota - Carlson School of Management ( email )
19th Avenue South
Minneapolis, MN 55455
United States
612-624-1821 (Phone)
Shantanu Dutta
University of Southern California - Marshall School of Business ( email )
Hoffman Hall 701
Los Angeles, CA 90089-1427
United States
213-740-5038 (Phone)
213-740-7828 (Fax)
Daniel Levy
Bar-Ilan University - Department of Economics ( email )
Ramat-Gan, 5290002
Israel
+972 3 531-8345 (Phone)
+972 3 738-4034 (Fax)
HOME PAGE: http://econ.biu.ac.il/en/levy

Emory University - Department of Economics ( email )
1602 Fishburne Drive, Suite 306
Rich Building
Atlanta, GA 30322-0001
United States
HOME PAGE: http://economics.emory.edu/home/people/faculty/Levydaniel.html
Rimini Center for Economic Analysis ( email )
Via Patara, 3
Rimini (RN), RN 47900
Italy
HOME PAGE: http://www.rcfea.org/
Mark Ritson (Contact Author)
London Business School ( email )
Sussex Place
Regent's Park
London, London NW1 4SA
United Kingdom
Mark Zbaracki
University of Western Ontario - General Management Area Group ( email )
London, Ontario
Canada
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