Price: Maximizing Customer Loyalty Through Personalized Pricing PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Price: Maximizing Customer Loyalty Through Personalized Pricing PDF full book. Access full book title Price: Maximizing Customer Loyalty Through Personalized Pricing by Cactus Raazi. Download full books in PDF and EPUB format.
Author: Cactus Raazi
Publisher: Lioncrest Publishing
ISBN: 9781544506111
Category : Business & Economics
Languages : en
Pages : 174
Get Book Here
Book Description
Price is the primary feature of every transaction-so why is it often treated as an afterthought? Most companies use pricing approaches developed before the internet, failing to harness modern analytics. Your customer relationships vary widely; shouldn't each customer's loyalty to your product or service be reflected in their price? In this age of increasing price transparency, uniform pricing is no longer sufficient. The best way forward is to create personalized pricing for your loyal customers and resist the constant discounting pressure of internet price aggregation. In Price, Cactus Raazi invites you to shake loose of your pricing preconceptions. Whether you're a corporate executive or a sole proprietor, you'll see how personalized pricing can improve customer loyalty and turn episodic transactions into recurring revenue. With price transparency and aggressive discounting here to stay, now is the time to refocus your pricing approach on your individual customer.
Author: Cactus Raazi
Publisher: Lioncrest Publishing
ISBN: 9781544506111
Category : Business & Economics
Languages : en
Pages : 174
Get Book Here
Book Description
Price is the primary feature of every transaction-so why is it often treated as an afterthought? Most companies use pricing approaches developed before the internet, failing to harness modern analytics. Your customer relationships vary widely; shouldn't each customer's loyalty to your product or service be reflected in their price? In this age of increasing price transparency, uniform pricing is no longer sufficient. The best way forward is to create personalized pricing for your loyal customers and resist the constant discounting pressure of internet price aggregation. In Price, Cactus Raazi invites you to shake loose of your pricing preconceptions. Whether you're a corporate executive or a sole proprietor, you'll see how personalized pricing can improve customer loyalty and turn episodic transactions into recurring revenue. With price transparency and aggressive discounting here to stay, now is the time to refocus your pricing approach on your individual customer.
Author: Anindya Ghose
Publisher:
ISBN:
Category :
Languages : en
Pages : 50
Get Book Here
Book Description
We embed the principal-agent model in a model of spatial differentiation with correlated consumer preferences to investigate the competitive implications of personalized pricing and quality allocation (PPQ), whereby duopoly firms charge different prices and offer different qualities to different consumers, based on their willingness-to-pay. Our model sheds light on the equilibrium product-line pricing and quality schedules offered by firms, given that none, one, or both firms implement PPQ. The adoption of PPQ has three effects in our model: it enables firms to extract higher rents from loyal customers, intensifies price competition for non-loyal customers, and eliminates cannibalization from customer self-selection. Contrary to prior literature on one-to-one marketing and price discrimination, we show that even symmetric firms can avoid the well-known Prisoner's Dilemma problem when they engage in personalized pricing and quality customization. When both firms have PPQ, consumer surplus is non-monotonic in valuations such that some low valuation consumers get higher surplus than high valuation consumers. The adoption of PPQ can reduce information asymmetry, and therefore sellers offer higher quality products after the adoption of PPQ. Overall, we find that while the simultaneous adoption of PPQ generally improves total social welfare and firm profits, it decreases total consumer surplus.
Author: Stefano Colombo
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
We consider a duopoly model where firms can identify only a share of consumers, which is positively correlated with the consumer' preferences. Firms charge personalized prices to the consumers they can recognize and a uniform price to the rest of consumers. The firms' available information is given by the combination of two factors: the intensive margin, which determines the share of consumers the firms can recognize in each single location, and the extensive margin, which determines how many locations the firms can identify. Different market configurations emerge according to the size of these margins. We characterize the values of the intensive and extensive margins that maximize firms' profits, and we show that profits are non-monotonic. We also show that the composition, in addition to the size, of the available information - i.e., the mix of these margins - affects firms' profits significantly. Implications for regulatory policies concerning the protection of consumers' information are finally discussed.
Author: Rafi Mohammed
Publisher: Crown Pub
ISBN: 9781400080939
Category : Business & Economics
Languages : en
Pages : 236
Get Book Here
Book Description
Furnishes a practical and easy-to-understand guide on how to use pricing to increase hidden profits and develop new growth opportunities, offering helpful advice, strategies, and techniques for increasing profit margins. 20,000 first printing.
Author: Kautish, Sandeep Kumar
Publisher: IGI Global
ISBN:
Category : Business & Economics
Languages : en
Pages : 556
Get Book Here
Book Description
In the field of strategic management and business intelligence, a formidable challenge is presentconventional decision-making processes, heavily reliant on internal and external reports, struggle to meet the demands of this data-driven era. As organizations grapple with the increasing influx of data, the imperative for a strategic shift becomes undeniably apparent. Using Strategy Analytics for Business Value Creation and Competitive Advantage helps to guide leaders in extracting value, structuring complex problems, and crafting robust business strategies. Scholars and industry experts alike will find within the pages of this comprehensive guide a roadmap to navigate the intersection of organizational strategy and analytics, ultimately unlocking the key to business brilliance. Using Strategy Analytics for Business Value Creation and Competitive Advantage stands as a testament to the commitment to addressing the prevailing challenges in strategic decision-making. Tailored for researchers, academicians, industry experts, and scholars, the book delves into the intricacies of strategy analytics, offering transformative insights for those seeking a competitive edge in the evolving business landscape. Capturing the essence of this exploration, the transformative potential of strategy analytics is encapsulated in this valuable resource.
Author: John A. GOODMAN
Publisher: AMACOM Div American Mgmt Assn
ISBN: 081441334X
Category : Business & Economics
Languages : en
Pages : 274
Get Book Here
Book Description
The success of any organization depends on high-quality customer service. But for companies that strategically align customer service with their overall corporate strategy, it can transcend typical good business to become a profitable word-of-mouth machine that will transform the bottom line. Drawing on over thirty years of research for companies such as 3M, American Express, Chik-Fil-A, USAA, Coca-Cola, FedEx, GE, Cisco Systems, Neiman Marcus, and Toyota, author Goodman uses formal research, case studies, and patented practices to show readers how they can: • calculate the financial impact of good and bad customer service • make the financial case for customer service improvements • systematically identify the causes of problems • align customer service with their brand • harness customer service strategy into their organization's culture and behavior Filled with proven strategies and eye-opening case studies, this book challenges many aspects of conventional wisdom—using hard data—and reveals how any organization can earn more loyalty, win more customers...and improve their financial bottom line.
Author: Mark Lamplugh
Publisher: Stylus Publishing, LLC
ISBN: 1501520040
Category : Computers
Languages : en
Pages : 297
Get Book Here
Book Description
Explore the transformative world of AI-driven marketing by integrating Artificial Intelligence into modern marketing strategies. This book is designed to help businesses optimize their operations, personalize customer experiences, and harness the full potential of AI to drive growth and innovation. You will learn the foundational concepts of AI and machine learning, discover best practices for data hygiene, structuring, and optimization, and explore how AI tools can transform customer data into actionable insights, enhancing your ability to create personalized and effective marketing campaigns. The book is tailored for marketing professionals, business owners, and digital strategists who are eager to integrate AI into their marketing practices. It is equally valuable for beginners and experienced marketers who want to stay at the forefront of the rapidly evolving digital marketing landscape. FEATURES: Includes step-by-step guides for implementing AI tools in SEO, social media, and email Covers the use of AI to analyze customer behavior, benefits of chatbots, and AI-powered customer service Features real-world cases from leading companies like Netflix, Amazon, and Spotify Uses AI tools to transform customer data into actionable insights for more effective campaigns
Author: Dr. Qaisar Abbas Fatimi
Publisher: Dr. Qaisar Abbas Fatimi
ISBN:
Category : Business & Economics
Languages : en
Pages : 256
Get Book Here
Book Description
Imagine a small coffee shop in a quaint neighborhood, which, through the power of effective marketing, transforms into a global phenomenon. Picture a startup with a revolutionary idea, using just the right blend of marketing strategies to become a household name. These stories, and countless others, form the tapestry of marketing's rich and varied history, a tapestry this book aims to explore and elucidate. At the heart of our journey is the quest to understand the essence of marketing. We begin in the past, delving into the foundational theories crafted by pioneers of the trade. These theories, like the story of David Ogilvy who revolutionized advertising with his focus on direct, customer-centric messaging, lay the groundwork for all that marketing has become today. As we move through the chapters, we encounter the practices that have shaped the present landscape of marketing. We tell tales of companies like Nike, which harnessed the power of brand storytelling to build an empire, and of small businesses that leveraged social media marketing to compete with industry giants. These stories illuminate the practical applications of marketing theories, demonstrating their power and versatility. In addressing ethical and sustainable marketing, we recount narratives of brands like Patagonia, which has woven environmental responsibility into its marketing fabric, inspiring a generation of conscious consumers and marketers alike. These tales underscore the growing importance of ethics in marketing, highlighting the shift towards more responsible business practices. The digital revolution in marketing brings its own set of stories. We delve into the world of AI and VR, recounting how these technologies are creating new frontiers in customer engagement, much like how Spotify uses data analytics to personalize user experiences, redefining the music industry's marketing strategies. Data-driven marketing strategies are no less dramatic. We explore how Netflix's data analytics have not just shaped marketing campaigns but also content creation, turning viewer preferences into blockbuster hits. Our global perspective includes tales of cross-cultural marketing successes and faux pas, learning from brands that have skillfully navigated the complex tapestry of global markets, and from those who stumbled, offering invaluable lessons in the importance of cultural sensitivity. As we peer into the future, we share predictions and possibilities, like the potential impact of blockchain technology on marketing transparency and customer trust. These forward-looking perspectives prepare our readers for the exciting, uncharted territories of marketing yet to come. In crafting "Marketing: Theory, Practice, and Perspectives," the goal was not just to create a book but to weave a story – a story that captures the imagination, imparts wisdom, and inspires action. It is a story that invites you, the reader, to be a part of this incredible world of marketing, to learn from its past, engage with its present, and shape its future.
Author:
Publisher: GRIN Verlag
ISBN: 334643639X
Category : Business & Economics
Languages : en
Pages : 24
Get Book Here
Book Description
Academic Paper from the year 2020 in the subject Business economics - General, grade: 72/100 (First Class Honours), Trinity College Dublin, language: English, abstract: This essay is about pricing, a core area of marketing. More specifically, it is about personalised pricing, which must not be confused with dynamic pricing. Personalised pricing describes adjusting the price for every single customer individually, while dynamic pricing describes adjusting the price for all customers subject to external factors like the current demand as of this moment, for example. If an airline company for instance lifts prices on weekends because demand is stronger on weekends in general, this is dynamic pricing. If the airline company however increases the price only for one particular customer, because they find out, for instance, that the customer uses a certain computer type which makes him likely to be wealthier than other customers, this is personalised pricing. The underlying motivation of this essay is to critically assess how personalised pricing is carried out and whether it should be adopted. Therefore, this essay takes the following approach and structure. Firstly, it is examined whether personalised pricing is legally permitted. Only if it is legally permitted to personalise prices it is worthwhile to further investigate this topic. Secondly, the customer’s willingness to pay is analysed. In order to personalise prices, it is necessary to know a customer’s exact willingness to pay. Thirdly, the topic of price elasticity is elaborated. It is necessary to assess whether profit is increased via increasing prices or decreasing prices and therefore higher demand. Fourthly, resulting retaliation as a consequence is explored. It is critically examined whether personalised pricing should be adopted, and empirical evidence is gathered to determine a retribution effect of personalised pricing which might end up making this practice unprofitable.
Author: Robert L. Phillips
Publisher: Stanford University Press
ISBN: 1503605655
Category : Business & Economics
Languages : en
Pages : 416
Get Book Here
Book Description
In the wake of the 2008 financial crisis, it became apparent that pricing loans in a way that is profitable for lenders and sensitive to risk is anything but simple. Increasingly, lenders are following the lead of other retailers by segmenting their market and more precisely targeting customers. To do this successfully, lenders must engage analytic approaches, such as machine learning and optimization, in setting prices for each segment. Robert L. Phillips worked with major banks and financial services companies for more than a decade to help them improve their pricing capabilities. This book draws on his experience, as well as the latest academic research, to demonstrate how lenders can apply the proven techniques of price optimization to responsibly improve the profitability of their loans. It is a go-to resource for academics and professionals alike, particularly lenders who are looking for ways to do better business in an increasingly competitive (and regulated) market.
