Entrepreneurial pricing: the Cinderella of marketing strategy

LEYLAND F. PITT · Pierre R. Berthon · Michael H. Morris

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Consumer Market Behavior and Pricing Entrepreneurship Studies and Influences Business Strategies and Innovation

Abstract

Pricing has tended to be the least creative element of marketing strategy, despite the fact that evidence from successful firms points strongly to the integral role of pricing in performance. Suggests that effective pricing has much to gain from an understanding of the entrepreneurial process, and its dimensions: innovativeness, proactiveness and risk‐assumption. Because firms today operate in increasingly turbulent environments, a reluctance to be entrepreneurial in pricing could lead to stagnation or even demise. Also provides a checklist for practising managers to use to determine the extent of entrepreneurial pricing behaviour within their firms.

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References

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2010Entrepreneurship: Its relationship with market orientation and learning orientation and as antecedents to innovation and customer value 1999The Pricing Decision in the Micro-Business: A Study of Accountants, Builders and Printers 2007A marketing mix model for a complex and turbulent environment 2023Towards a systemic entrepreneurship activity model 2003An investigation into how marketers cope with an environment of high complexity and turbulence, with special reference to the South African environment.

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