Abstract
In the quest to improve shareholder value companies in the past have primarily focused on cutting costs. However continuing cost reductions has its limit necessitating attention on revenue as well. An effective pricing framework helps companies ensure pricing strategy development and execution. The purpose of this article is to propose a conceptual framework for pricing strategy development and execution in a competitive industry. The framework introduced in this article consists of (1) a three-phased pricing management process of planning, execution and analysis; (2) a set of implementation guidelines ensuring completeness, accuracy, responsiveness and flexibility. Through an empirical case study, we demonstrate how a high-tech company using a series of business and IT initiatives successfully implemented the framework.
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fearned a PhD in Industrial & System Engineering from the Georgia Institute of Technology, Atlanta, Georgia. He was a telecommunications consultant with Contel Information Systems from 1981 to 1985. He then joined AT&T Bell Labs as architecture planner from 1985 to 1992. He is the director and professor of the Institute of Technology Management at National Chiao-Tung University, Taiwan. His research interests include business strategy and industry analysis.
greceived a PhD in Management of Technology from National Chiao-Tung University, Taiwan in 2004. He is an associate professor with the Department of Business Administration, National Changhua University of Education, Taiwan. His research interests include industry analysis, business strategy and technology policy.
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Hwang, BN., Tsai, J., Yu, HC. et al. An effective pricing framework in a competitive industry: Management processes and implementation guidelines. J Revenue Pricing Manag 10, 231–243 (2011). https://doi.org/10.1057/rpm.2009.47
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DOI: https://doi.org/10.1057/rpm.2009.47