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2010 | OriginalPaper | Chapter
Pricing Culture and Behavior
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What is pricing culture and behavior? In attempting to develop more rigorous analytical processes in pricing, a first obvious step would be to ensure that data-based analysis is completed when pricing a product or pricing a contract. This would entail having information such as competitive data and cost data as part of the overall analysis effort. Additionally, you would want consistent approach to data analysis in all the various parts of a company that priced products or contracts. This consistency would be captured in a policy and procedures document for everyone to utilize as the instruction tool with included standardized templates for setting the actual prices.