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Author: Tudor Bodea
Publisher: Business Expert Press
ISBN: 1606492586
Category : Business & Economics
Languages : en
Pages : 156
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Book Description
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.
Author: Tudor Bodea
Publisher: Business Expert Press
ISBN: 1606492586
Category : Business & Economics
Languages : en
Pages : 156
Get Book Here
Book Description
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.
Author: Tudor Bodea
Publisher: Routledge
ISBN: 1136624848
Category : Business & Economics
Languages : en
Pages : 267
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Book Description
The practices of revenue management and pricing analytics have transformed the transportation and hospitality industries, and are increasingly important in industries as diverse as retail, telecommunications, banking, health care and manufacturing. Segmentation, Revenue Management and Pricing Analytics guides students and professionals on how to identify and exploit revenue management and pricing opportunities in different business contexts. Bodea and Ferguson introduce concepts and quantitative methods for improving profit through capacity allocation and pricing. Whereas most marketing textbooks cover more traditional, qualitative methods for determining customer segments and prices, this book uses historical sales data with mathematical optimization to make those decisions. With hands-on practice and a fundamental understanding of some of the most common analytical models, readers will be able to make smarter business decisions and higher profits. This book will be a useful and enlightening read for MBA students in pricing and revenue management, marketing, and service operations.
Author: Tudor Bodea
Publisher:
ISBN: 9781782680888
Category : Market segmentation
Languages : en
Pages :
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Book Description
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.
Author: Walter R. Paczkowski
Publisher: Routledge
ISBN: 1351713094
Category : Business & Economics
Languages : en
Pages : 318
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Book Description
The theme of this book is simple. The price – the number someone puts on a product to help consumers decide to buy that product – comes from data. Specifically, itcomes from statistically modeling the data. This book gives the reader the statistical modeling tools needed to get the number to put on a product. But statistical modeling is not done in a vacuum. Economic and statistical principles and theory conjointly provide the background and framework for the models. Therefore, this book emphasizes two interlocking components of modeling: economic theory and statistical principles. The economic theory component is sufficient to provide understanding of the basic principles for pricing, especially about elasticities, which measure the effects of pricing on key business metrics. Elasticity estimation is the goal of statistical modeling, so attention is paid to the concept and implications of elasticities. The statistical modeling component is advanced and detailed covering choice (conjoint, discrete choice, MaxDiff) and sales data modeling. Experimental design principles, model estimation approaches, and analysis methods are discussed and developed for choice models. Regression fundamentals have been developed for sales model specification and estimation and expanded for latent class analysis.
Author: Erik Haugom
Publisher: Routledge
ISBN: 9780429345319
Category : Business & Economics
Languages : en
Pages : 280
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Book Description
"This book provides a broad introduction to the field of pricing as a tactical function in the daily operations of the firm, and a toolbox for implementing and solving a wide range of pricing problems. Beyond the theoretical perspectives offered by most textbooks in the field, Essentials of Pricing Analytics supplements the concepts and models covered by demonstrating practical implementations using the highly accessible Excel software, analytical tools, real life examples and global case studies. The book covers topics on fundamental pricing theory, break-even analysis, price sensitivity, empirical estimations of price response functions, price optimization, markdown optimization, hedonic pricing, revenue management, the use of big data, simulation, and conjoint analysis in pricing decisions, and ethical and legal considerations. This is a uniquely accessible and practical text for advanced undergraduate, MBA and postgraduate students of pricing strategy, entrepreneurship and small business management, marketing strategy, sales and operations. It is also important reading for practitioners looking for accessible methods to implement pricing strategy and maximize profits. Online resources include Excel templates and PowerPoint slides for each chapter"--
Author: Guillermo Gallego
Publisher: Springer
ISBN: 1493996061
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
“There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. “The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. Phillips, Director of Pricing Research at Amazon “At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference.” Richard Ratliff, Research Scientist at Sabre “This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers.” Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.
Author: Mike Grigsby
Publisher: Kogan Page Publishers
ISBN: 0749482176
Category : Business & Economics
Languages : en
Pages : 241
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Book Description
Who is most likely to buy and what is the best way to target them? How can businesses improve strategy without identifying the key influencing factors? The second edition of Marketing Analytics enables marketers and business analysts to leverage predictive techniques to measure and improve marketing performance. By exploring real-world marketing challenges, it provides clear, jargon-free explanations on how to apply different analytical models for each purpose. From targeted list creation and data segmentation, to testing campaign effectiveness, pricing structures and forecasting demand, this book offers a welcome handbook on how statistics, consumer analytics and modelling can be put to optimal use. The fully revised second edition of Marketing Analytics includes three new chapters on big data analytics, insights and panel regression, including how to collect, separate and analyze big data. All of the advanced tools and techniques for predictive analytics have been updated, translating models such as tobit analysis for customer lifetime value into everyday use. Whether an experienced practitioner or having no prior knowledge, methodologies are simplified to ensure the more complex aspects of data and analytics are fully accessible for any level of application. Complete with downloadable data sets and test bank resources, this book supplies a concrete foundation to optimize marketing analytics for day-to-day business advantage.
Author: Cram101 Textbook Reviews
Publisher: Cram101
ISBN: 9781497005143
Category :
Languages : en
Pages : 80
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Book Description
Never HIGHLIGHT a Book Again! Includes all testable terms, concepts, persons, places, and events. Cram101 Just the FACTS101 studyguides gives all of the outlines, highlights, and quizzes for your textbook with optional online comprehensive practice tests. Only Cram101 is Textbook Specific. Accompanies: 9780415898331. This item is printed on demand.
Author: Gary L. Lilien
Publisher: DecisionPro
ISBN: 0985764805
Category : Business & Economics
Languages : en
Pages : 287
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Book Description
The 21st century business environment demands more analysis and rigor in marketing decision making. Increasingly, marketing decision making resembles design engineering-putting together concepts, data, analyses, and simulations to learn about the marketplace and to design effective marketing plans. While many view traditional marketing as art and some view it as science, the new marketing increasingly looks like engineering (that is, combining art and science to solve specific problems). Marketing Engineering is the systematic approach to harness data and knowledge to drive effective marketing decision making and implementation through a technology-enabled and model-supported decision process. (For more information on Excel-based models that support these concepts, visit DecisionPro.biz.) We have designed this book primarily for the business school student or marketing manager, who, with minimal background and technical training, must understand and employ the basic tools and models associated with Marketing Engineering. We offer an accessible overview of the most widely used marketing engineering concepts and tools and show how they drive the collection of the right data and information to perform the right analyses to make better marketing plans, better product designs, and better marketing decisions. What's New In the 2nd Edition While much has changed in the nearly five years since the first edition of Principles of Marketing Engineering was published, much has remained the same. Hence, we have not changed the basic structure or contents of the book. We have, however Updated the examples and references. Added new content on customer lifetime value and customer valuation methods. Added several new pricing models. Added new material on "reverse perceptual mapping" to describe some exciting enhancements to our Marketing Engineering for Excel software. Provided some new perspectives on the future of Marketing Engineering. Provided better alignment between the content of the text and both the software and cases available with Marketing Engineering for Excel 2.0.
Author: Eric Benjamin Seufert
Publisher: Elsevier
ISBN: 0124166989
Category : Business & Economics
Languages : en
Pages : 254
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Book Description
Freemium Economics presents a practical, instructive approach to successfully implementing the freemium model into your software products by building analytics into product design from the earliest stages of development. Your freemium product generates vast volumes of data, but using that data to maximize conversion, boost retention, and deliver revenue can be challenging if you don't fully understand the impact that small changes can have on revenue. In this book, author Eric Seufert provides clear guidelines for using data and analytics through all stages of development to optimize your implementation of the freemium model. Freemium Economics de-mystifies the freemium model through an exploration of its core, data-oriented tenets, so that you can apply it methodically rather than hoping that conversion and revenue will naturally follow product launch. Learn how to apply data science and big data principles in freemium product design and development to maximize conversion, boost retention, and deliver revenue Gain a broad introduction to the conceptual economic pillars of freemium and a complete understanding of the unique approaches needed to acquire users and convert them from free to paying customers Get practical tips and analytical guidance to successfully implement the freemium model Understand the metrics and infrastructure required to measure the success of a freemium product and improve it post-launch Includes a detailed explanation of the lifetime customer value (LCV) calculation and step-by-step instructions for implementing key performance indicators in a simple, universally-accessible tool like Excel
