Pricing education in the United States of America: responding to the needs of business Available to Purchase

In the affluent 1960s and 1970s, consumers tended to be price insensitive. Business consequently placed a low priority on pricing, and marketing educators in the USA responded by stressing the non‐price elements of the marketing mix. As a result, when consumers became more price sensitive in the 1980s and 1990s, and business became more concerned about pricing, marketing was not involved. Now, however, marketing educators are beginning to respond to the renewed emphasis on price as a key component in consumers’ perceived value. A new study shows an increase from 4 to 13 percent of US marketing education programs now including a course in pricing; another 22 percent are interested in adding one within two years.