Advanced
search

To read this content please select one of the options below:

Driving growth with new products: common pricing traps to avoid

John Hogan (Vice President of Strategic Pricing Group. John holds a PhD in Marketing Strategy from the University of North Carolina, a MS in Business Administration from Indiana University and a BS in Electrical Engineering from Auburn University. Prior to joining Strategic Pricing Group, John was an award‐winning professor at the Boston College Carroll School of Management where he taught Marketing Strategy, Pricing and Electronic Marketing. In addition, John has ten years of experience teaching pricing strategy in executive education programs at the University of Chicago, Columbia University and the University of North Carolina. To reach John, please send e‐mail to jhogan@spgconsulting.com or call 781 890‐4550.)
Tom Lucke (Vice President and Director of Consulting Services for the Strategic Pricing Group. Tom has more than 20 years experience working with clients to develop strategies that capitalize on emerging market opportunities and technologies. Tom holds an MS in Industrial Administration from Carnegie Mellon University and a BS in Management from Rensselear Polytechnic Institute. To reach Tom, please send e‐mail to tlucke@spgconsulting.com or call 781 890‐4550.)

Journal of Business Strategy

ISSN: 0275-6668

Article publication date: 1 January 2006

2322

Abstract

Purpose

–

The purpose of this article is to reveal several issues surrounding old style twentieth century pricing traps that need to be overcome in the twenty‐firt century global economy and expanding internet marketplace.

Design/methodology/approach

–

The information on which this article is based derives from the authors' experience and expertise advising and supporting companies of all sizes over many years. There is further evidence from surveys done by a professional association.

Findings

–

Pricing is vital component to revenue and profit success and needs to be a functional lever for every company.

Practical implications

–

Whether introducing new products/services or upgrades to existing products/services, better revenue/profit margins can be accomplished by establishing a viable and value‐based pricing strategy.

Original/value

–

Pricing strategy is an essential element for doing business successfully in the global marketplace.

Keywords

Citation

Hogan, J. and Lucke, T. (2006), "Driving growth with new products: common pricing traps to avoid", Journal of Business Strategy, Vol. 27 No. 1, pp. 54-58. https://doi.org/10.1108/02756660610640182

Publisher

:

Emerald Group Publishing Limited

Copyright © 2006, Emerald Group Publishing Limited

Related articles

Manage cookies

We’re listening — tell us what you think

Join us on our journey