Price
Abstract
This chapter examines the strategic role of pricing within marketing. It provides a six-step framework to set prices (defining the marketing objective, determining demand, estimating costs, analysing competitors, selecting a pricing method, and finalizing the price based on contextual factors), and explains different pricing strategies depending on specific marketing objectives. The reader will learn about demand and supply considerations, cost structures, and behavioural and legal factors in pricing. The chapter concludes with a discussion on the role of Customer Relationship Management (CRM) solutions in setting a pricing strategy.
Fields of Study & Subjects
Consumer Market Behavior and Pricing
Marketing and Advertising Strategies
Consumer Behavior and Marketing Influence
Publication details
- Journal / source
- Marketing
- Pages
- 110–138
- Publication date
- 16 January 2026
- Language
- EN
- Document type
- Book chapter