Chapter 10: Toward a Theory of New-Product Pricing


Chapter 10

Toward a Theory of New-Product Pricing establishes three objectives: first, when pricing a new product, determining the value provided to the customer is essential; second, a theory of new-product pricing must consider how price influences a customer’s judgment; and lastly, the value of a product changes over time. The chapter proposes that a more appropriate theory can be developed by recognizing the evolutionary process of demand and price.


Book Information

Pages: 14
Published: 1987
New Copyright: 2011
ISBN: 9781613110744
Categories:, , , ,
Authors:, ,

Author information

Akshay R. Rao Akshay R. Rao

Akshay R. Rao is the General Mills Chair in Marketing at the Carlson School of Management at the University of Minnesota. His research, which has focused on consumer behavior, channels of distribution, pricing strategy, and sales force management, has appeared in several journals including Journal of Marketing and Marketing Science. He is regularly consulted by the local and national media, such as PBS, the Wall Street Journal, and CNN. He is presently on the Editorial Review Boards of the Journal of Marketing, the Journal of Marketing Research, the Journal of Consumer Psychology, and the Journal of Consumer Research.

Joseph D. Chapman Joseph D. Chapman

Joseph Chapman is Professor of Marketing and Management at the Miller College of Business at Ball State University. He earned his bachelors and MBA degrees from Ball State University. Before earning his doctorate from Virginia Polytechnic and Statue University, he was a computer sales representative and pharmaceutical sales representative. He became a member of the Ball State faculty in 1987, where he expanded and vastly improved the school’s sales program. The program is now renowned as one of the best in the nation.

Kent B. Monroe Kent B. Monroe

Professor Kent B. Monroe is a Visiting Distinguished Scholar in Marketing at the Robins School of Business at the University of Richmond in Richmond, Virginia. He teaches courses in pricing strategy and tactics, marketing management, and research methods.


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