This is a blog dedicated specifically to operations management. My vision is to create an online discussion forum where people with passion for OM - academicians, practitioners, students, or absolutely anyone are willing to share their views and learn about other views. This is envisioned to be a place to share thoughts and comments. People are free to use contents from this blog.
Pricing is the moment of truth for any business. Demand for a product is eventually a result of the price being charged for a product, so setting the "right" price is as important as choosing the "right" product to sell that can create a successful business. Pricing is studied more in the field of marketing where pricing is one of the 4 Ps of marketing (others are product, place and promotion).
The focal point of my research so far has been the study of pricing in supply chain contexts such as stockouts, different type of upstream contracts or sourcing, and competition. The more pressing and fundamental issue at the core of pricing is how consumers react to different pricing strategies and what are these?
In order to learn more about pricing strategies, I came across this online tutorial by Houston Chronicle (which is not a place that comes to my mind when I am thinking about literature on pricing).