Pricing strategies in the era of digitalisation and the perceived shift in consumer behaviour of youth in Poland

Vijay Victor,Jose Joy Thoppan,Janusz Grabara,Maria Fekete-Farkas

doi:10.14254/2071-8330.2019/12-3/7

Abstract

Pricing strategies in the era of digitalisation and the perceived shift in consumer behaviour of youth in Poland

Highlights

IntroductionPricing is one of the four ‘P’s (product, place, promotion, price) in marketing research which plays a crucial role in determining the profitability of a seller
Pricing is one of the four ‘P’s in marketing research which plays a crucial role in determining the profitability of a seller
Revenue management aims at selling the right product to the right customer at the right price, time and place ensuring the optimal usage and minimum wastage of available resources which in turn maximises the revenue of a firm (Cross, 1997) One of the most common and successfully practiced revenue management techniques in the Electronic Commerce segment by many multinationals including Amazon, Walmart etc. is the dynamic pricing strategy in which the price of a product is determined in accordance with its corresponding market demand and supply (Han et al, 2018)

Summary

Introduction

Pricing is one of the four ‘P’s (product, place, promotion, price) in marketing research which plays a crucial role in determining the profitability of a seller. The advent of globalisation and the resulting transmission of the crisis from a single economy to the global marketplace have brought forth several problems to multinational companies These issues have forced the multinationals to frame various strategic business models and pricing techniques to maintain a competitive edge in a cut throat business environment. Finding the right price for a product at a time which maximises the firm’s profitability and at the same time doesn’t hurt the consumer price perceptions is a very complicated task. It is in this regard, revenue management techniques are gaining momentum internationally. Revenue management aims at selling the right product to the right customer at the right price, time and place ensuring the optimal usage and minimum wastage of available resources which in turn maximises the revenue of a firm (Cross, 1997) One of the most common and successfully practiced revenue management techniques in the Electronic Commerce segment by many multinationals including Amazon, Walmart etc. is the dynamic pricing strategy in which the price of a product is determined in accordance with its corresponding market demand and supply (Han et al, 2018)

Methods

Findings

Discussion

Conclusion