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In the affluent 1960s and 1970s, consumers tended to be price insensitive. Business consequently placed a low priority on pricing, and marketing educators in the USA responded by stressing the non‐price elements of the marketing mix. As a result, when consumers became more price sensitive in the 1980s and 1990s, and business became more concerned about pricing, marketing was not involved. Now, however, marketing educators are beginning to respond to the renewed emphasis on price as a key component in consumers’ perceived value. A new study shows an increase from 4 to 13 percent of US marketing education programs now including a course in pricing; another 22 percent are interested in adding one within two years.

This study systematically reviewed pricing research published in leading marketing and hospitality and tourism (H&T) journals between 2010 and 2019. It attempts to concretize the understanding of the evolving patterns of pricing research in both fields and suggests an agenda for future research in H&T.

This study performed keyword co-occurrence analyses and co-citation analyses on the bibliographic data of 575 articles from marketing and H&T journals. Content analysis was applied to investigate the emerged topics in H&T.

The marketing discipline showed a persistent focus on research themes including price promotion, reference price, price fairness and pricing strategy. The H&T domain experienced a significant content enrichment of preexistent research topics. H&T scholars showed a growing interest in studying pricing for sharing economy accommodations and the interplay between pricing and electronic word-of-mouth. While marketing research applied theories from multiple disciplines as the theoretical foundations, H&T studies adopted the hedonic pricing model as an overarching theory.

Future pricing research in H&T may incorporate theories from other disciplines such as psychology, sociology and anthropology to broaden the scope of the study. Besides, innovative study designs and complex data analysis techniques should be encouraged. Topicwise, H&T scholars can dive deeper into price promotion and distribution channel price management.

This is the first study consolidating the pricing literature in H&T and marketing. It also suggests the potential research directions for researchers.

The purpose of this general review paper is to provide a comparison and evaluation of the treatment of pricing by the disciplines of economics and marketing.

It is from three perspectives that the marketing and economics approaches to pricing are reviewed, namely, buyers' response to price, firm's determination of price, and industry‐ or economy‐wide role of price.

A comparative review of the relevant marketing and economics literature shows that there are important differences between the two disciplines in their treatment of pricing. Marketing demonstrates a richer and more empirically based treatment of the pricing issue from the buyer's perspective, while economics is unchallenged from the economy‐wide perspective. The differences found between the marketing and economics approaches to pricing are mostly due to their different historical origins, primary concerns and doctrinal evolution. In contrast, interdisciplinary loans especially from behavioral science have made possible considerable advances in marketing, particularly in the understanding of the buyer's perspective.

Previous reviews of the pricing literature do not attempt to provide a direct comparison and evaluation and offer no explanation for the observed differences among the economics and the marketing disciplines regarding their treatment of the pricing issue. The value and originality of the current paper lies in the fact that it represents the first attempt to provide such a comparison and evaluation.

The purpose of this paper is to investigate the characteristics that lead to the adoption of the three new business-to-business (B2B) product pricing strategies, namely, skimming pricing (i.e. a high initial price), penetration pricing (i.e. a low initial price) and pricing similar to competitive prices.

To achieve the study’s research objectives, data were collected through a mail survey from 116 B2B firms, operating in four different sectors.

The adoption of skimming pricing and penetration pricing is triggered by company-related factors that are associated with the company’s corporate and marketing strategy and the product characteristics, while the adoption of pricing similar to competitive prices is influenced by market-related factors that are associated with customers’ and competitors’ characteristics.

The above findings indicate that the managers responsible for setting prices for new B2B products should follow a “situation-specific approach” and be guided by the unique characteristics of their internal and external environment.

Its contribution lies on the fact that, building upon quests within the existing literature, it constitutes one of the first attempts to examine empirically the aforementioned issue.

After pioneering, but insular, work on the conceptualization and measurement of customer value in business markets undertaken in the 80s and 90s, interest in this topic is substantial since the beginning of this decade. Despite this recent interest, marketing scholars concur that value in business markets is still an under-researched subject. This contribution to the debate is threefold. The paper first proposes an own model of customer value conceptualization in business markets; based on several rounds of testing this theoretically grounded model in managerial practice indications exist to conclude that this model may offer benefits over current models.

Secondly, the paper provides a comprehensive survey of pricing approaches in industrial markets. The paper integrates this literature overview with own empirical findings. Concurrently the paper summarizes extant research on the link between pricing approach and profitability in industrial markets. The paper thirdly proposes a framework for value delivery and value-based pricing strategies in industrial markets. Proposing such a framework is both useful as well as necessary. Useful, since this framework guides new product development and pricing decisions and assists in the implementation of price-repositioning strategies for existing products; necessary, since the theoretical and practical adoption of value-based delivery and pricing strategies may have suffered from the lack of a unifying conceptual framework. Two case studies, one involving the pricing decision for a major product launch at a global chemical company, the other involving value delivery at an industrial equipment manufacturer, illustrate the practical applicability of the proposed framework.

Examines the shift in priorities of US industrial firms from those of securing market share by means of product innovation and aggressive pricing strategy to that of the achievement of short‐term objectives such as the satisfaction of financial markets and shareholders. Describes an eight‐year study tracking the use of pricing strategy by industrial firms in the 1980s, situating them in the wider context of Japanese‐led changes to the US market during that period. Concludes that instead of reacting defensively, abandoning pricing as a market strategy or using it for short‐term profitability, US business should concentrate on product innovation/development and the pursuit of long‐term profit goals via marketing and pricing strategies appropriate to the external marketplace.

The purpose of this paper is to investigate the pricing objectives (e.g. customer-related objectives, sales-related objectives, profit-related objectives) that service companies pursue to set their prices and to examine the impact of market structure on these objectives.

To achieve the research objectives, data were collected from 184 companies operating in four different service industries, namely, logistics companies, financial services providers, information technology companies and airlines.

The findings indicate that the companies that were investigated in the current study seem to follow a hierarchy of pricing objectives, in which their main focus is on the maintenance of the existing customers and the attraction of new ones to ensure their long-term survival in their market without, however, disregarding financial issues and objectives. The study also revealed that the market structure, along with the sector of operation, has an impact on the pricing objectives pursued, as different market conditions were found to lead to different pricing objectives.

The above findings indicate that managers responsible for setting prices within their firms should be guided by the unique characteristics of their markets.

Given the lack of similar studies within the existing services sector literature, the originality/value of the paper lies in the fact that it presents one of the first attempts to empirically examine this issue from a marketing point of view.

Reference price is a key input in deciding product/service prices by organizations and has a significant influence on consumer purchase decisions. This study aims to provide a deeper understanding of reference pricing literature using bibliometric analysis and offers specific research questions for future research in this domain.

Using a sample of 309 articles published between 1977 and 2021, the study conducts bibliographic coupling, citation analysis, cluster analysis, content analysis, keyword analysis and a three-field plot to map the intellectual structure of reference price.

The content analysis gave seven research clusters: (1) modeling reference price, (2) consumer perceptions of price (un)fairness, (3) price framing, (4) comparative price-based promotion, (5) reference price formulation, (6) pay-what-you-want (PWYW) pricing and (7) range theory and price perceptions. The study also delineates reference price literature across several parameters like authorship, highest cited paper, most popular journal, institutions, region-wise publication trend and author-networks. The emerging research themes for future scholars working in this domain have also been highlighted.

This is the first comprehensive study to explore reference price from a bibliometric lens. The study highlights and discusses the recent themes on reference price, from both academic and managerial perspectives.

Suggests that rapid rise of energy costs and worldwide inflation have altered pricing decisions importance. Provides an overview of the marketing literature on pricing — intending developing a conceptual framework and classification system for different types of pricing strategies in industrial markets. Strives to provide a more comprehensive basis for developing industrial pricing strategies in addition to earmarking the most relevant marketers' needs. Sectionalises the article and, in the first part, explores existing literature; the second part develops a taxonomy of purchasing situations. Closes by linking the pricing topics, identified previously, to the different purchasing situations. Lists, by topic, the articles used and these are in the Appendix to enable quick reference to potential users. Employs tables for extra emphasis to aid in explanation along with 2 Appendixes.