Teaching Pricing Principles and Price Policies

Abstract

HIS paper deals with the various aspects and importance of prices and price as an integral part of the course in Industrial Marketing. The scope of the paper is restricted to an appraisal and evaluation of the subject matter on prices and price policy to be included in such a course. An analysis of the economic, marketing and social effects of industrial pricing policies is not within the purview of this subject. It is assumed that the student prior to taking the course in Industrial Marketing has had as minimum preparation a five or six hour course in Principles of Economics and a three hour course in Principles of Marketing. Without the analytical tools of economic analysis the student is not equipped to cope with the complex pricing problems found in the field of industrial marketing. It is patent that the principles course in marketing orients the student in such matters as marketing functions, institutions, policies, etc. This course also serves to correlate the student's knowledge of economic theory (primarily value theory) with the institutional framework of our marketing structure; it also provides that blending of theoretical economics with actual marketing situations so essential for penetrating analysis and evaluation. With this preparation the student should be capable of handling the material on prices and price policy in the Industrial Marketing course.'