PROBLEMS OF PRICING AS A COMPETITIVENESS TOOL IN LATVIAN BUSINESS ENVIRONMENT

Entrepreneurs work today in a changing environment and under circumstances of fierce competition. Price is deemed to be a tool that entrepreneurs could use for strengthening their position and their competitiveness. However, price and pricing is a complex process and often undeservedly little used as a competitiveness enhancement tool. The aim of this study is to evaluate the problems concerning pricing in the Latvian business environment. To achieve the aims, the role of the pricing process and the factors influencing it have been described, a comparison of the competitiveness of the Latvian business environment with other countries has been carried out and actual problems related to pricing in the Latvian business environment have been identified based on the opinions of entrepreneurs and experts. Research methodology used in the research: logically constructive approach; synthesis method; social research methods - panel discussion and interviews. As a result, the problems concerning pricing in the Latvian business environment will be evaluated.