The Handbook of Marketing presents a major retrospective and prospective overview of the field of marketing, and provides a landmark reference at a time when many of the traditional boundaries and domains within the marketing discipline have been subject to change. The Handbook frames, assesses and synthesizes the work in the field and helps to define and shape its current and future development. It includes contributions from leading scholars in the field, and the input of an international and extremely distinguished advisory board of marketing academics. The Handbook of Marketing will be invaluable to advanced undergraduates, graduate students and academics in marketing.

Pricing: Economic and Behavioral Models

Pricing: Economic and behavioral models

Introduction

A major focus of academic research in marketing has been on what have traditionally been referred to as the marketing mix variables. Research on pricing, advertising, channels of distribution, sales promotion, and product policy (e.g., branding) are naturally important areas for research, as these are key decisions that marketing managers have to make. As an applied field, marketing has an obligation to perform not only basic research (e.g., how do buyers process information for new technological goods?) but also research that has the potential to help our practitioner counterparts do a better job.

The area of price, in particular, has been an extremely fertile ground for new concepts and methods. Not only is the number of papers ...

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