Pricing segmentation and analytics [electronic resource] / Tudor Bodea and Mark Ferguson.
Material type:![Text](/opac-tmpl/lib/famfamfam/BK.png)
- 9781606492581 (electronic bk.)
- 658.816 23
- HF5416.5 .B636 2012
- Also available in print.
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Pricing analytics uses historical sales data with mathematical optimization to set and update prices offered through various channels in order to maximize profit. With this outstanding contribution to this subject, you will learn just how to identify and exploit pricing opportunities in different business contexts. Each chapter looks at pricing from an economist's viewpoint beginning with the basic concept of pricing analytics and what type of data are needed to use this powerful science; the common assumptions regarding the customer population's willingness- to-pay are discussed along with the price-response functions that result from these assumptions; examples from several industries and organizations; dynamic pricing, with a special emphasis on the most common application--markdown pricing; the new field of customized pricing analytics, where a firm responds to a request-for-bids or request-for-proposals with a customized price response; and the relevant aspects of behavioral science to pricing. Additional examples include the asymmetry of joy/pain that customers feel in response to price decreases/increases.
Includes bibliographical references (p. 147-151) and index.
1. Theory of pricing analytics -- 2. The practice of pricing analytics -- 3. Dynamic pricing and markdown optimization -- 4. Pricing in business-to-business environments -- 5. Customer behavior aspects of pricing -- Appendix A. Dichotomous logistic regression -- Appendix B. Pricing analytics using R -- Notes -- References -- Index.
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Pricing analytics uses historical sales data with mathematical optimization to set and update prices offered through various channels in order to maximize profit. A familiar example is the passenger airline industry, where a carrier may sell seats on the same flight at many different prices. Pricing analytics practices have transformed the transportation and hospitality industries and are increasingly important in industries as diverse as retail, telecommunications, banking, health care, and manufacturing. The aim of this book is to guide students and professionals on how to identify and exploit pricing opportunities in different business contexts.
Also available in print.
Electronic reproduction. Ann Arbor, MI : ProQuest, 2015. Available via World Wide Web. Access may be limited to ProQuest affiliated libraries.
Mode of access: World Wide Web.
System requirements: Adobe Acrobat reader.
Title from PDF t.p. (viewed on January 25, 2012).
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