Pricing segmentation and analytics [electronic resource] / Tudor Bodea and Mark Ferguson.

ISBN:

9781606492581

Title:

Author:

Bodea, Tudor, author.

Personal Author:

Bodea, Tudor, author.

Edition:

First edition.

Physical Description:

1 online resource (160 pages).

Series:

Marketing strategy collection,

Contents:

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.

Local Note:

eBooks on EBSCOhost

Subject Term:

Pricing.

Revenue management.

Market segmentation.

Added Author:

Ferguson, Mark, 1969-

Added Corporate Author:

Business Expert Press.

Format:

Electronic Resources

Electronic Access:

Click here to view

Publication Date:

2012

Publication Information:

New York, NY :

Business Expert Press,

[2012]

Available:*

Shelf Number	Material Type	Copy	Shelf Location	Status
658.816 23	1:E-BOOK	1	1:ONLINE	Searching... Unknown

Bound With These Titles

On Order

Summary

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.