Book Details
Format
Hardback or Cased Book
Book Series
Schriften zu Marketing und Handel
ISBN-10
3631647050
ISBN-13
9783631647059
Edition
New
Publisher
Peter Lang AG
Imprint
Peter Lang AG
Country of Manufacture
DE
Country of Publication
GB
Publication Date
Oct 28th, 2014
Print length
185 Pages
Weight
408 grams
Dimensions
15.30 x 21.50 x 1.70 cms
Product Classification:
Economic theory & philosophyProduction & quality control management
Ksh 9,050.00
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Price management has a high importance within the marketing field. Price is by far the most sensitive profit lever that managers can influence. Reflecting the academic and managerial need, the research objective is to gain a comprehensive understanding in two areas: the magnitude of price elasticity and the determinants of price elasticity.
Price is a fundamental profit driver. It is by far the most sensitive profit lever that managers can influence. Very small price changes translate into enormous changes in profit. Price elasticity indicates how sensitively consumers react to price changes. Not only the knowledge about the magnitude of price elasticity, but also the knowledge about the determinants influencing the price reaction is essential. It is crucial for the development of a successful marketing strategy to understand how price elasticities vary with market and product characteristics. Reflecting the academic and managerial need, the objective of the research is to gain a comprehensive understanding in two main areas, the magnitude of price elasticity and the determinants of price elasticity.
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