How a pricing decisions are decided and executed

Abstract

Marketing and management studies are rich in the theoretical backround related to price strategy and pricing. However, consistent with the lack of interest in complexity of decision making process in price management. The purpose of the research study is to identify all stages in decision – making process in price management in Slovak enterprises and to measure their mutual association and their dependence on elements of organizational parameters. Based on the results of descriptive statistics on decision making process in price management, we can say that companies go through an average of four steps in the decision-making process (M = 4.72), with higher variability (SD=3.02), compared to the mean.