Recent advancements in technology have made dynamic pricing strategies even more accurate and effective. A large retail bank using pricing algorithms is now able to tailor deposit rate offers by observing a customer’s checking account activities. The algorithm, detecting deposit flows between the bank and a secondary savings bank, can take into account the nature […]
Customer segmentation is a simple concept – identify groups of customers who tend to have similar levels of price sensitivity and set distinct prices for each group. Unfortunately, many companies either think all their customers are the same, or they don’t have enough information to create segments. In particular, we often see this in retail […]
Why is there a need for CRAPIDO? Discover why one pricing professional strongly believes the industry can use another Responsibility Assignment Matrix. Businesses must clearly define roles, especially within pricing, and without organization, they become inefficient, ineffective, underperforming and a drain. CRAPIDO is a way to impart a bit of discipline into the current system. […]
All companies want to improve their profitability and deliver more value to their shareholders, but the best ways to do that are often debated. Pricing is the most powerful lever available to companies striving to improve profitability, but how to effectively use that lever may be unclear. Over the years we have talked with many […]
The majority of companies already recognise the potential for achieving growth through improved pricing. Understanding their customers and being able to react to them is often what drives pricing, yet in reality a very small proportion (13%) have an in-depth understanding of what their customers value and what they’re willing to pay. This may be […]
Higher price means higher quality in consumers’ minds: Study | Big News Network
Washington D.C [USA], July 24 (ANI): Why are we willing to pay much more for a six pack of craft beer, a locally produced bottle of wine or a regional brand item, often choosing them over national brands? It’s because when people prefer to ‘buy local,’ they more frequently base their decisions on price as […]
Disneyland ticket prices have skyrocketed more than 5,000% since the Anaheim theme park opened in 1955, according to a new study. A study from the United Kingdom-based Play Like Mum mommy blog looked at the rising costs of admission tickets over the past six decades at Disney theme parks around the world. Disneyland admission cost […]
Job: Principle Pricing Analyst | Worldpay
Description Principle Pricing Analyst The Company Worldpay is a global payments leader powering international commerce with deep fintech expertise and a shared passion for our customers. Whether in-store, online, or on a mobile device, we process over 40 billion transactions annually and offer more than 300 payment methods supporting 126 currencies across 146 countries. It’s […]
Considering a Subscription Model? Avoid These Rookie Mistakes | IndustryWeek
The subscription economy is taking business by storm. Entire industries have moved to subscription-based pricing, leaving behind some of the slow movers but also giving new life to companies that were struggling. Some talk about the end of ownership and the start of usership. It is a real revolution. Industrial companies have lately been getting […]
Statistics for Dynamic Pricing of Theatre | Towards Data Science
Summary: Dynamic pricing is the practice of adjusting a price to meet its demand, or market value. Given the difficulty of selling 100% of a performance’s tickets and that any unsold tickets immediately expire once a performance starts, dynamic pricing shows promise of lowering ticket prices while increasing revenue for shows. Included are several statistical […]
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