Sustainable Pricing Initiatives in Marketing: A Conceptual Framework for Triple Bottom Line Success
(A2024-119315)

AUTHORS

Lukas Schnabl, WHU - Otto Beisheim School of Management; Anna-Karina Schmitz, WHU - Otto Beisheim School of Management

ABSTRACT

In times of climate change and the necessity for companies to transform their business, marketers face the challenge of recalibrating the marketing mix towards more sustainability. This paper addresses a gap in existing research by investigating pricing initiatives to bolster sustainable consumption. Drawing on the price management process and the "triple bottom line" principle, the study develops a conceptual framework. The framework includes various initiatives in the strategy, analysis, decision, and implementation phase of the price management process. Through real-world examples and synthesis of literature, the paper explores how pricing strategies can align with corporate sustainability goals, emphasizing the interconnectedness of economic, environmental, and social objectives. The proposed framework provides insights for marketers seeking to integrate sustainability into their pricing strategies, contributing to a more comprehensive understanding of sustainable marketing.