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The extent that manufacturing small-and-medium sized firms apply value-based pricing for their products

Woznicki, S.A. (2019) The extent that manufacturing small-and-medium sized firms apply value-based pricing for their products.

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Abstract:The purpose of this study is to discover the extent that manufacturing small-and-medium sized firms apply value-based pricing for their products. In doing so, how the firms apply VBP and which obstacles they face have been revealed. The literature indicates that the usage of value-based pricing is superior compared to other pricing strategies such as competition-based pricing and cost-based pricing. This study uses an exploratory approach with semi-structured interviews. 17 firms were interviewed and the data was analysed with open coding. The results of this study indicate that most of the firms apply a combination of value-based pricing with another pricing strategy. In general, there are many methods in how the firms apply value-based pricing. The most often named methods are communication with the customer, using quality as a factor and discovering the latent needs of the customer. The extent that the firms apply value-based pricing is various. The usage of value-based pricing is dependent on the situation. This study further imparts with theoretical contributions that indicate that the pricing strategy is dependent on the situation and sheds light on a new area of research, the usage and application of a combination of pricing strategies within small-and-medium sized firms.
Item Type:Essay (Master)
Clients:
Samsung, Amsterdam, The Netherlands
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:05 communication studies, 70 social sciences in general, 85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/78024
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