Behavioral issues in price setting in business-to-business marketing: A framework for analysis |
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| Affiliation: | 1. College of Business, Florida Atlantic University, 777 Glades Road, Boca Raton, FL 33431, USA;2. Durham University Business School, Durham DH1 3LB, UK;3. Department of Marketing, University of Miami, P.O. Box 248147, Coral Gables, FL 33124, USA;1. Department of Organization and Management, CUNEF School of Business and Finance, C/Leonardo Prieto Castro 2, 28040 Ciudad Universitaria, Madrid, Spain;2. Ikujiro Nonaka Research Centre on Knowledge and Innovation, CUNEF School of Business and Finance, C/Leonardo Prieto Castro 2, 28040 Ciudad Universitaria, Madrid, Spain;3. Department of Business Administration, Faculty of Economics and Business, Complutense de Madrid University, Campus de Somosaguas, s/n. 28223 Pozuelo de Alarcón, Madrid, Spain;1. Jerusalem Academic Center, Lander Institute, Department of Business Management, 3 Am Veolamo St., Givaat Shaul, Jerusalem, Israel;2. College of Law & Business, 26 Ben Gurion St, Ramat Gan, P.O. Box 852, Bnei Brak 51108, Israel;3. Jerusalem College of Technology, Department of Electronics, P.O. Box 16031, Jerusalem, Israel;4. Sheffield Business School, City Campus, Sheffield S1 1WB, UK;1. University of Florence, Florence, Italy;2. University of Lugano - USI, Lugano, Switzerland;3. BI Norwegian Business School, Oslo, Norway;4. University of Perugia, Perugia, Italy;1. University of Westminster, Department of Marketing and Business Strategy, 35 Marylebone Road, United Kingdom;2. University of Westminster, Department of Marketing and Business Strategy, 35 Marylebone Road, London NW1 5LS, United Kingdom;3. Ming Chuan University, Business Administration Department, 5F., 130, Jihe Rd., Shihlin District, Taipei City 111, Taiwan;1. Lancaster University, Management School, Lancaster LA1 4YW, UK;2. Business Ecosystems Research Group, School of Business and Management, Queen Mary University of London, London E1 4NS, UK |
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| 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. |
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