Publication details for Professor Mike NicholsonIyer, G.R., Xiao, S., Sharma, A. & Nicholson, M. (2015). Behavioral issues in price setting in business-to-business marketing: a framework for analysis. Industrial marketing management 47: 6-16.
- Publication type: Journal Article
- ISSN/ISBN: 0019-8501
- DOI: 10.1016/j.indmarman.2015.02.001
- Keywords: Business-to-business pricing, Price setting, Industrial pricing decisions, Behavioral bias in pricing.
- Further publication details on publisher web site
- Durham Research Online (DRO) - may include full text
Author(s) from Durham
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.