Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024)

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The Nexus of Market Competition and Pricing Strategies

Authors
Wenchong He1, *
1The Australian National University, Canberra, Australia
*Corresponding author. Email: 2482516799@qq.com
Corresponding Author
Wenchong He
Available Online 23 July 2024.
DOI
10.2991/978-94-6463-459-4_4How to use a DOI?
Keywords
Market Competition; Pricing Strategies; Competitive Markets
Abstract

This article explores the complex relationship between market competition and company pricing strategies across various industrial landscapes. In fiercely competitive markets, businesses often engage in price wars, necessitating strategic acumen to balance aggressive pricing and profit preservation. The fluid nature of pricing, driven by competitive actions and market dynamics, demands adaptability and informed decision-making to sustain profitability. Monopolistic industries offer companies greater pricing autonomy, with strategies like price discrimination, and dynamic, and value-based pricing coming to the fore. In mixed markets, a nuanced approach combining elements from both competitive and monopolistic contexts is essential, requiring segmented pricing strategies and vigilant competitive monitoring. The paper underscores the need for strategic flexibility and adaptiveness in pricing, shaped by the intricate dynamics of market competition, to optimize revenue and profitability while safeguarding market position.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
23 July 2024
ISBN
978-94-6463-459-4
ISSN
2352-5428
DOI
10.2991/978-94-6463-459-4_4How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Wenchong He
PY  - 2024
DA  - 2024/07/23
TI  - The Nexus of Market Competition and Pricing Strategies
BT  - Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024)
PB  - Atlantis Press
SP  - 32
EP  - 38
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-459-4_4
DO  - 10.2991/978-94-6463-459-4_4
ID  - He2024
ER  -