Commentary on "Industrial Pricing: Theory and Managerial Practice"

George E. Cressman, Jr.

Noble and Gruca (1999, this issue) provide useful insights into the pricing practices managers employ. Their findings indicate managerial pricing practices are heavily dominated by internal, cost-based approaches. Particularly relevant is the absence of value-based pricing practices.

Noble and Gruca's findings indicate that the emerging market orientation work has not connected to pricing practice. This work poses a significant challenge for marketing theoreticians and educators: How can managers be helped to move beyond internally focused to externally-customer-focused pricing practice?

(Pricing; Pricing Theory; Market Orientation; Marketing Strategy; Marketing Educaion)