Record Details

“Pay What You Want”: A Participative Price Setting Mechanism

International Journal of Economic Practices and Theories

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Field Value
 
Title “Pay What You Want”: A Participative Price Setting Mechanism
 
Creator Balan, Carmen
 
Subject Marketing
marketing, pricing, pay what you want, participative mechanism
M30, M31
 
Description Traditionally, price is a major component of the marketing mix of companies, irrespective of their industry. Price used to be set by suppliers. In contrast, new approaches are visible in the practice of several companies; respectively customers take the initiative of price setting. The present paper aims to explore the pricing mechanism “Pay What You Want” that is focused on customers. The main objectives of the paper refer to the identification of: (i) specific features of this pricing approach; (ii) positive outcomes for companies and customers; (iii) challenges raised for economic operators and buyers; (iv) cases of companies from the international markets that applied such methods. The paper makes specific and detailed recommendations relative to the implementation of the “Pay What You Want” pricing mechanism that is based on the direct participation of customers.
 
Publisher International Journal of Economic Practices and Theories
 
Contributor —
 
Date 2014-10-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.ijept.org/index.php/ijept%20/article/view/Pay_What_You_Want_A_Participative_Price_Setting_Mechanism
 
Source International Journal of Economic Practices and Theories; Vol 4, No 5 (2014): Special issue on Marketing and Business Development; 952-963
2247 – 7225
 
Language eng
 
Relation http://www.ijept.org/index.php/ijept%20/article/view/Pay_What_You_Want_A_Participative_Price_Setting_Mechanism/pdf_69