Pricing practices and value creation logics

The pricing literature is mainly concerned with pricing in association with standardized products and services. This article addresses the topic of pricing from the perspective of value creation logics, focusing on highly customized deliveries rather than standardized products. The article first outlines a framework of pricing settings, depending on value creation logics. It then exemes parts of this framework through an empirical illustration of pricing practices within an industrial firm supplying highly customized deliveries. In particular, the article identifies the appropriateness of applying economic versus customer value pricing practices depending on the value creation setting. © 2012 Macmillan Publishers Ltd.