Essential issues in price management
DOI:
https://doi.org/10.56563/costosygestion.111.e5Keywords:
pricing, cost management, consumer value, competitiveness, Artificial IntelligenceAbstract
Price management constitutes a central dimension of business administration. Drawing on the B-P-C model—Benefit-Price-Cost—this paper analyzes a set of critical issues associated with pricing decisions, including price segmentation, implementing dynamic pricing within the framework of Revenue Management, managerial answers to price wars and battles, current application of Artificial Intelligence, the role of specialized Pricing departments within organizations, and the adoption of Target Pricing and Target Costing approaches. Special focus is on methodologies designed to measure benefits perceived by consumers and to construct aggregated demand curves, as well as to the relevance of net prices and the appropriateness of applying specific pricing models in certain business contexts.
Professionalization and increasing complexity of Pricing function is a matter of strategic relevance for companies in today's competitive environments. This field is particularly conducive to the development of specialized expertise, while also requiring knowledge of management theory, data science, mathematics, statistics, and technological tools. Such competencies, however, must remain subordinated to a fundamental condition: a rigorous understanding of the underlying business model and its competitive dynamics.
Given the decisive impact of pricing decisions on firms performance and considering their increasing importance in environments characterized by intensified competition and more demanding consumers, systematic study and practice of pricing should be regarded as a managerial priority.
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References
Bhimani, A., Horngren, C. Datar, S. y Rajan, M. (2019). Management & Cost Accounting. 7th. Edition, Slovakia: Pearson.
Smolje A. (2023). Lineamientos y modelos para una gestión adecuada de precios. En el XLVI Congreso Argentino de Profesores Universitarios de Costos, realizado en Córdoba, Octubre 2023.
Vázquez, J.C. (1983). Tratado de Costos. 4ª. Edición. Buenos Aires: Editorial Aguilar
Vohra, R. y Krishnamurthi, L. (2012). Principles of Pricing. U.S.A.: Oxford University Press.
Zatta, D. (2022). Pricing revolution. Avellaneda: Empresa Activa
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