Great question with the most votes. In my experience, Product Marketing owns a large percentage of the market analysis, pricing and packaging effort. At VMware, Product Marketing works hand in hand with Product Management, executive staff, finance and sales to carve out pricing for new and incremental offerings. We split pricing related responsibilities in the following way.
Product Marketing:
Customer & market intelligence i.e. customer segmentation, addressable market, competitve insights and analyst research
Pricing & packaging i.e. product price points, bundling, tiering and discounting
Sales enablement i.e. how is the product priced, deals structured and overcoming any sales objections
Product Management:
Product line tiering i.e. features ABC available to customer segment 1 and features XYZ available to customer segment 2
Product prioritazation i.e. based on customer feedback, market intelligence and companies what features will see the light of day
Product requirements i.e. delivering epics, user stories and task with engineering