Conceptualising innovative price models: the RITE framework

Abstract

Purpose

The purpose of this paper is to lay a current, research-based foundation for investigation of the concept of innovative price models and its connection to business models.

Design/methodology/approach

The design is composed of a structured literature review of articles on price models published in 22 journals during 42 years. This then serves as a base for a subsequent conceptual discussion about the foundation of innovative price models.

Findings

The literature review yields only very few results that are loosely scattered across various areas and mostly without any kind of deeper exploration of the concept of price models. The paper therefore goes on to conceptually explore some fundamental conditions that might influence or even determine price models. The final outcome of this exploration is the relation, intention, technology and environment (RITE) framework that is a meta-model for conceptualising innovative price models.

Research limitations/implications

The literature review could include additional journals and areas, and empirical testing of the RITE framework as yet has been limited.

Practical implications

The RITE framework can be used by practitioners as a tool for investigating the potential and usefulness of developing the capability to handle innovative price models.

Originality/value

The RITE framework provides fundamental conditions, which influence, or even determine, how innovative price models are developed and applied.

Citation

Cöster, M., Iveroth, E., Olve, N.-G., Petri, C.-J. and Westelius, A. (2019), "Conceptualising innovative price models: the RITE framework", Baltic Journal of Management, Vol. 14 No. 4, pp. 540-558. https://doi.org/10.1108/BJM-06-2018-0216