Cost Plus Pricing with Elasticity Considerations: A Way of Adding Price Elasticity by Some Economists

Definition of Cost-plus Pricing with Elasticity Considerations

Cost-plus Pricing with Elasticity Considerations is defined as a concept or pricing method that is utilized by many companies across the globe. Usually, many companies had been utilizing Cost-plus pricing method but as per some economists, this method has serious methodological flaws. This normal Cost-plus pricing never took any account of the “demand” factor. There has been no way of determining if potential consumers would buy a particular product at the calculated price. In order to overcome these flaws, some economists tried to apply the principles based upon Price Elasticity to Cost-plus Pricing method and thus, the Cost-plus Pricing with Elasticity Considerations Method came into use.

Textbooks on Cost-plus Pricing with Elasticity Considerations

Cost-Plus Pricing with Elasticity Considerations is quite a tedious topic that marketers need to grasp if they have perfect mathematical skills. Relevant textbooks can surely assist them and here are some details of such textbooks:

• Marketing Management by Peter (Published by Tata McGraw-Hill Education).
• Handbook on Management of Non-Profit Organizations by Easo John (Published by Macmillan – Year 2003).

Examples of Cost-plus Pricing with Elasticity Considerations

Example 1: An interesting example of Cost-plus Pricing with Elasticity Considerations can be the fact that when companies opt for the markup that they implement upon costs while doing Cost-plus pricing, they should be and usually consider the price elasticity of demand, whether consciously or not.

Example 2: Another example of Cost-plus Pricing with Elasticity Considerations can be the fact that now even online marketers and e-commerce companies are looking up to this concept whenever it is required. After all, these Pricing techniques cannot remain confined to the real world but also needs to be implemented within the virtual world for improved marketing practices.

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