Pricing Process as A Capability : A Resource - Based Perspective  

Oleh:

Duta, Shantanu ; Zbaracki, Mark J. ; Bergen, Mark

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 24 no. 7 (Jul. 2003), page 615-630.
Topik: PRICING; pricing; resource - based view; capability; organizational routines; ethnography

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.12 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Strategists following the resource - based view argue that firms can generate rents throughs value creation. To create value, firms develop and use resources and capabilities that other firms cannot imitate, trade for, or substitute other assets for. Wven a firm that has created value, however, may not capture the potential rents associated with that value. To capture rents, a firm must set the right prices for what it sells. Most views of pricing assume that a firm can readily set appropriate prices. In contrast, we argue that pricing is a capability. To develop the ability to set the right prices, a firm must invest in resources and routines. We base our argument on a study of the pricing process of a large midwestern manufacturing firm. We show that pricing resources, routines and skills may help or inhibit a firm in setting the right price and hence in appropriating value created. Our view of pricing as a capability contributes to the resource - based view because it suggests that strategiests should consider the portfolio of value creation and value appropriation capabilities a firm uses to create competitive adantage. Our view also contributes to economics because it suggests that strategic decisions about pricing capabilities have important implications form a fundamental economic action, determining prices. Managers in firms without effective pricing process es may be unable to set prices that reflect the wishes of its costumers, so the customers may misuse their resources. As a result, resources may be used ineffectivelly. Our view of pricing as a capability therefore takes the resource - based - view straight to the heart of what is perhaps the central economic question : the best use of resources.

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