Finding the glass slipper

Douglas West

This is a summary of an article which appeared in MIT Sloan Management Review. It discusses pricing, which the authors describe as the Cinderella of marketing.

Best in Brief: Finding the glass slipper

(MIT Sloan Management Review)

Shantanu Data

Mark Bergen

Daniel Levy

Mark Ritson

and

Mark Zbaracki

 

Pricing is the Cinderella of marketing. It has generally been seen as tactical rather than strategic, and considered much easier than creating the product in the first place. However, start tinkering with it in an ad hoc way and you end up with irrational prices and angry customers. Furthermore, setting the price for a radically new product in an untested market might lead to the squandering of opportunities. Pricing can be either a strategic capability or a...

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