When Customers Help Set Prices
MIT Sloan Management Review, Vol. 55, Issue 4, pp. 57-64, 2014
Posted: 24 Apr 2013 Last revised: 26 Jun 2014
Date Written: July 17, 2014
To many managers, the idea of involving customers in pricing decisions seems counterproductive. For most companies, pricing is a sensitive, private affair. But it may be time to reexamine those ideas. Letting customers have input on prices provides opportunities for customization and can promote greater customer engagement. Opening up customer participation also offers a way for companies to create a new sense of excitement.
Keywords: pricing, marketing strategy, business-process outsourcing, price discrimination
Suggested Citation: Suggested Citation