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- Title
A Cross-Cultural Analysis of Price Responses to Environmental Changes.
- Authors
Rao, Vithala R.; Steckel, Joel H.
- Abstract
In planning the marketing mix for a product, managers implicitly respond to changes in both their internal and external environments. This paper studies managers' judgments of how they would respond to changes in their own product costs and competitor's prices. A manager could react to these by focusing on new products, new markets, or the marketing mix for the current product market. We concentrate on the third. We focus on a set of potential reactions that could include a change in price. Data from managers in both the United States and Europe are used to study pricing reactions to hypothetical scenarios of environmental changes. We estimate relationships between the managerial response and changes in the environment for different types of businesses in different countries.
- Subjects
UNITED States; EUROPE; MARKETING; PRICES; NEW product development; PRODUCT costing; INDUSTRIAL research
- Publication
Marketing Letters, 1995, Vol 6, Issue 1, p5
- ISSN
0923-0645
- Publication type
Article
- DOI
10.1007/BF00994035