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Pricing Decisions in Small Business /
These studies, which originated from research on approximately 100 firms earned on at the University of Kentucky under a grant from the Small Business Administration, are an empirical examination of decision making in the small firm. The practices revealed by the investigation have been analyzed wit...
| Autor principal: | |
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| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Lexington :
The University Press of Kentucky,
[2015]
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| Colección: | Book collections on Project MUSE.
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| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Cover; Title; Copyright; FOREWORD; ACKNOWLEDGMENTS; CONTENTS; 1. INTRODUCTION; Method of Study; Relation to Price Theory and Managerial Economics; PART I; 2. SOME PRESCRIPTIVE VIEWS ON PRICING; Naive Full-Cost Pricing; Naive Going-Rate Rules; Marginalism in Pricing; Orientation to the future; Separation of fixed and variable costs; Opportunity costs; Demand considerations; Market structure; The incremental cost-incremental revenue rules; Sophisticated Full-Cost Pricing; Sophisticated Going-Rate Pricing; Conclusions; 3. COST AND DEMAND IN SMALL BUSINESS PRICING: THE CASE STUDIES.
- Some General Conclusions from the Case StudiesFull-Cost Pricing with Modifications; Cases of the Rigid Adherence to Full Costs; Full Costs as Resistance Points or Reference Points; Markups on Wholesale Cost: Gross Margin Pricing
- Varying Markups by Customers and Product Lines; Pricing without Markups; Trial and Error and Other Demand Indicators; A Note on Flexibility, Adaptability, and Mechanical Decision Rules; Conclusions; 4. MARGINALISM AND PROFIT MAXIMIZATION IN SMALL BUSINESS PRICING; Direct Measurements of Marginal Values; Subjective Marginalism.
- Two Steps in Full-Cost Pricing: A Partial Reconciliation with MarginalismShortrun versus Longrun Factors in Pricing; Profit Maximization; Conclusions on Marginalism and Profit Maximization; Comparisons with Other Conclusions; 5. MARKET STRUCTURE; A Classification of Cases; Monopoly; Oligopoly; Monopolistic competition; Hybrids; Analysis of Central Issues; The competitive character of small business; The relevance of the kinked-demand theory; Full costs as a control over competition; Approximations to pure competition; The relevance of the concept of monopolistic competition; Conclusion.
- 6. CONCLUSION: THE PRESCRIPTIVE IMPLICATIONS OF THE STUDYRelation to Previous Studies; Contributions to Price Policy; Individualization of pricing: cross-sectional flexibility; Flexibility of prices over time; Longrun welfare of the firm; Complementary sales and company image
- Avoidance of full-cost pricing; Attention to demand and competition; Sources of information on demand; Relating prices to the product's life cycle; Pricing and Incremental Reasoning; PART II; THE INDIVIDUAL CASE STUDIES; Five Garden and Landscape Nurseries; Four Automobile Repair Shops.
- Three Other Repair Service CompaniesThree Entertainment Service Companies; Four Miscellaneous Service Companies; Seven Contractors; Seven Hardware Stores; Three Gift Shops; Four Department Stores and Departmentalized Specialty Stores; Five Men's Clothing Stores; Eight Miscellaneous Retailers; Two Mixed Sales and Service Outlets; Six Wholesalers; Seven Printing Companies; Five Furniture Manufacturers; Eight Building Supplies Manufacturers; Two Flour Mills and a Meatpacker; Five Miscellaneous Manufacturers; INDEX; A; B; C; D; E; F; G; H; I; K; L; M; N; O; P; R; S; T; V; W.