Pricing Dynamics in the Global Marketplace: A Comprehensive Analysis of Cost, Value, and Competition

S. SHIMPI; Ganesh Radhakrishnan

Abstract

The most common pricing methods used by international companies are based on price, customer value and competition. The aim of this study, in addition to data, is to analyze the current state of advertising costs worldwide, identify copywriters and leading publishing houses, and provide further research opportunities. To this end, we used bibliometric methods to identify relevant literature in four databases: Web of Science, Emerald, Elsevier, and Spell. A total of articles from different journals (mostly from the field of business, economics, marketing and production) were reviewed. The findings show that price is a complex and multifaceted concept that involves much more than setting the selling price and price managers face serious challenges. The results also show that the cost-based approach outperforms the customer value-based approach and the competition-based approach. Finally, the findings show that value is still an understudied topic and therefore deserves further research.This study provides insights into the present landscape of advertising costs worldwide, identifies important contributors in copywriting and publishing, and delineates prospects for future development using a comprehensive bibliometric analysis drawn from multiple databases and literature sources. Our findings highlight the complexities of pricing dynamics, demonstrating the obstacles that price managers encounter when negotiating a variety of pricing schemes. While cost-based approaches emerge as strong rivals, customer value analysis remains an underexplored subject, indicating prospects for future research. This study contributes to a better knowledge of pricing mechanisms and lays the groundwork for future research efforts targeted at deciphering the complexities of pricing in the global commercial arena.