Tomas Hult speaks with Kent Monroe, John Jones Distinguished Professor of Marketing Emeritus, University of Illinois and Visiting Distinguished Scholar, University of Richmond. The academic field of marketing has selected a small set of about a dozen gurus to recognize their amazing intellect, knowledge, and contributions.

Dr. Kent Monroe is the only guru focused on the issue of “pricing.” So, opportunistically, this segment focused on pricing as it relates to marketing products and services. The topics relate to pricing as a strategic variable for companies and how companies should view pricing in their strategic arsenal. Plus, practically, Tomas Hult asked Kent Monroe to address the issue of how a company should generally go about setting price (for a product or service) today if they were to take the product to a new market (such as a country they had not previously engaged).