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Driving growth with new products: common pricing traps to avoid

John Hogan, Tom Lucke

Journal of Business Strategy

ISSN: 0275-6668

Article publication date: 1 January 2006

2340

Abstract

Purpose

The purpose of this article is to reveal several issues surrounding old style twentieth century pricing traps that need to be overcome in the twenty‐firt century global economy and expanding internet marketplace.

Design/methodology/approach

The information on which this article is based derives from the authors' experience and expertise advising and supporting companies of all sizes over many years. There is further evidence from surveys done by a professional association.

Findings

Pricing is vital component to revenue and profit success and needs to be a functional lever for every company.

Practical implications

Whether introducing new products/services or upgrades to existing products/services, better revenue/profit margins can be accomplished by establishing a viable and value‐based pricing strategy.

Original/value

Pricing strategy is an essential element for doing business successfully in the global marketplace.

Keywords

Citation

Hogan, J. and Lucke, T. (2006), "Driving growth with new products: common pricing traps to avoid", Journal of Business Strategy, Vol. 27 No. 1, pp. 54-58. https://doi.org/10.1108/02756660610640182

Publisher

:

Emerald Group Publishing Limited

Copyright © 2006, Emerald Group Publishing Limited

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