The paper discusses the need for the development of measures that can be used in an applied domain. It suggests that applied scales differ from scales used for scientific research in several ways. The paper presents an applied scale developed for use by retail managers to assess store image. Unlike previous research, the priorities used in the development of the scale included the applicability of the scale by store managers.
Sustainable competitive advantage is recognized as a critical factor for survival in the turbulent environments of the 1990s. The limited use of pricing as a strategic tool to gain and hold competitive advantage has created an opportunity for companies willing to redesign their competitive portfolios and go with unorthodox strategy mixes. Proposes an approach to value pricing that can be used to seize and drive competitive advantage, and which yields a price that minimizes the risk that buyers will not perceive value at least equivalent to that provided by a reference product. At the same time, the risk to sellers of not achieving minimum margins is controlled. Suggests that this approach enhances the ability of management to develop dynamic and proactive strategies for pricing.
Examines the shift in priorities of US industrial firms from those
of securing market share by means of product innovation and aggressive
pricing strategy to that of the achievement of short‐term objectives
such as the satisfaction of financial markets and shareholders.
Describes an eight‐year study tracking the use of pricing strategy by
industrial firms in the 1980s, situating them in the wider context of
Japanese‐led changes to the US market during that period. Concludes that
instead of reacting defensively, abandoning pricing as a market strategy
or using it for short‐term profitability, US business should concentrate
on product innovation/development and the pursuit of long‐term profit
goals via marketing and pricing strategies appropriate to the external
marketplace.
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