Title: Modeling price elasticity of demand in pricing strategy
Abstract: The paper analyzes the different variables with product characteristics that affect the pricing of a (competitive) firm as vibrant productive unit. Based on the firm’s profit maximization problem, the paper brings out the role of demand elasticity as well as customers’ loyalty as the key factors in the firm’s pricing strategy. This is stressed because in marketing a product little has been said about the importance of price demand elasticity in pricing strategy.
Publication Year: 2013
Publication Date: 2013-02-28
Language: en
Type: article
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