Operationalizing Dynamic Pricing Models PDF Download

Author: Steffen Christ
Publisher: Springer Science & Business Media
ISBN: 3834961841
Category : Business & Economics
Languages : en
Pages : 363

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Book Description
Steffen Christ shows how theoretic optimization models can be operationalized by employing self-learning strategies to construct relevant input variables, such as latent demand and customer price sensitivity.

Author: Steffen Christ
Publisher: Gabler Verlag
ISBN: 9783834927491
Category : Business & Economics
Languages : en
Pages : 351

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Book Description
Steffen Christ shows how theoretic optimization models can be operationalized by employing self-learning strategies to construct relevant input variables, such as latent demand and customer price sensitivity.

Author: David Prakash
Publisher: BoD – Books on Demand
ISBN: 3756863514
Category : Business & Economics
Languages : en
Pages : 155

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Book Description
Digital technologies are driving the application of dynamic pricing. Today, this pricing strategy is used not only for perishable products such as flights or hotel rooms, but for almost any product or service category. With dynamic pricing, retailers frequently adjust their prices over time to respond to factors such as demand, their supply and that of competitors, or the time of sale. Additionally, dynamic pricing allows retailers to take advantage of a large share of consumers' willingness to pay while avoiding losses from unsold products. Ultimately, this can lead to an increase in revenue and profit. However, the application of dynamic pricing comes with great challenges. In addition to the technological implementation, companies have to take into account that dynamic pricing can cause complex and unintended behavioral consequences on the consumer side. The key objective of this dissertation is to provide a deeper understanding of the impact of dynamic pricing on consumer behavior. To this end, this dissertation presents insights from four perspectives. First, how reference prices as a critical component in purchase decisions are operationalized. Second, how customers search for products priced dynamically, differentiated by business and private customers, as well as by different devices used for the search. Third, whether and how dynamic pricing influences the impact of internal reference prices on purchase decisions. Finally, this dissertation demonstrates that consumers perceive price changes as personalized in different purchase contexts, leading to reduced perceptions of fairness and undesirable behavioral consequences.

Author: Ben Vinod
Publisher: Springer Nature
ISBN: 3030704246
Category : Business & Economics
Languages : en
Pages : 417

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Book Description
This book chronicles airline revenue management from its early origins to the last frontier. Since its inception revenue management has now become an integral part of the airline business process for competitive advantage. The field has progressed from inventory control of the base fare, to managing bundles of base fare and air ancillaries, to the precise inventory control at the individual seat level. The author provides an end-to-end view of pricing and revenue management in the airline industry covering airline pricing, advances in revenue management, availability, and air shopping, offer management and product distribution, agency revenue management, impact of revenue management across airline planning and operations, and emerging technologies is travel. The target audience of this book is practitioners who want to understand the basics and have an end-to-end view of revenue management.

Author: Ben Vinod
Publisher: Springer Nature
ISBN: 3031515242
Category :
Languages : en
Pages : 500

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Book Description

Author: Richard Reisman
Publisher: Business Expert Press
ISBN: 1631574787
Category : Business & Economics
Languages : en
Pages : 195

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Book Description
Businesses recognize the need to become more customer focused, but struggle to see how. At the same time, our logic and business models for selling digital content and services are broken. Digital relationships enable services at low cost, but we still focus on discrete transactions at prices that consumers see as exploitive. This book explains how a revolutionary approach to pricing can solve these problems. It proposes a new architecture for cooperative service relationships that is personalized and continuously adaptive. FairPay operationalizes a new logic for conducting ongoing business relationships that adaptively seek win-win value propositions in which price reflects value. At a practical level, the author explains how this can be applied to transform a range of industries -- with motivations, and guidelines for implementation in stages -- to enhance loyalty, market share, and profits. At a conceptual level, he explores how novel processes for participative co-pricing can dynamically seek agreement on win-win value propositions -- to approach optimal price discrimination over a series of transactions. FairPay applies modern behavioral economics in choice architectures that enable deep relationship marketing. An online supplement is provided.

Author: Andreas Hinterhuber
Publisher: Routledge
ISBN: 042982291X
Category : Business & Economics
Languages : en
Pages : 153

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Book Description
Pricing can truly transform organizations. The impact of pricing on organizations is a result of two factors: pricing strategy development and the implementation of these strategies. Implementation is arguably the most difficult part in the pricing strategy process where even seasoned practitioners demand guidance. Pricing strategy development requires creativity, analytical rigor, and an ability to master the internal political competition for scarce resources, but it takes place in a well-defined environment. Fast forward to strategy implementation: competitors that stubbornly fail to behave according to assumptions, new entrants, internal resistance, new opportunities, changing customer preferences, leadership changes, regulatory interventions, or market growth rates that change unexpectedly are some of the intervening variables between the pricing strategy originally developed and the strategy actually implemented. This book provides the theories and best practices that enable the effective implementation of pricing strategies. It offers: a best practice overview on how to convert a pricing strategy into superior results insights from current academic research on driving profits via pricing strategy implementation examples on how to deal with digital transformation in the context of pricing tools and insights into how to overcome internal resistance, align the organization, and forge win-win relationships with customers Taking a new approach, Pricing Strategy Implementation is a critical and practical tool for practicing executives and managers, as well as academics and researchers in pricing, marketing strategy, and strategic management.

Author: Selwyn Piramuthu
Publisher: John Wiley & Sons
ISBN: 1118967437
Category : Technology & Engineering
Languages : en
Pages : 322

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Book Description
Radio Frequency Identification (RFID) is a key technology in the food industry that facilitates real-time visibility of items as they move through the supply chain and on to the end-consumer. Among all the currently available automatic identification technologies, RFID has clear dominance in terms of its ability to support real-time two-way communication, data storage and update, authentication, ambient condition sense and report, batch read without direct line-of-sight, operation in harsh environments and sensor-based applications. RFID and Sensor Network Automation in the Food Industry provides sufficient detail on the use of RFID and sensor networks from `farm to fork (F2F) to allow the reader to appreciate the myriad possible applications of RFID and associated sensor network systems throughout the entire food supply chain. This includes precision agriculture, the provision of seamless visibility in track and trace applications, reduction of wastage, identification of counterfeits and contamination sources, remaining shelf-life applications for perishables, and quality and safety measures, among others. Providing state-of-the-art information from peer-reviewed research publications as well as general industry trends, this book will be of interest to all stakeholders in the agri-food supply chain, and academics and advanced students with an interest in these fields.

Author: John F. Tanner, Jr.
Publisher: John Wiley & Sons
ISBN: 1118905733
Category : Business & Economics
Languages : en
Pages : 256

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Book Description
Key decisions determine the success of big data strategy Dynamic Customer Strategy: Big Profits from Big Data is a comprehensive guide to exploiting big data for both business-to-consumer and business-to-business marketing. This complete guide provides a process for rigorous decision making in navigating the data-driven industry shift, informing marketing practice, and aiding businesses in early adoption. Using data from a five-year study to illustrate important concepts and scenarios along the way, the author speaks directly to marketing and operations professionals who may not necessarily be big data savvy. With expert insight and clear analysis, the book helps eliminate paralysis-by-analysis and optimize decision making for marketing performance. Nearly seventy-five percent of marketers plan to adopt a big data analytics solution within two years, but many are likely to fail. Despite intensive planning, generous spending, and the best intentions, these initiatives will not succeed without a manager at the helm who is capable of handling the nuances of big data projects. This requires a new way of marketing, and a new approach to data. It means applying new models and metrics to brand new consumer behaviors. Dynamic Customer Strategy clarifies the situation, and highlights the key decisions that have the greatest impact on a company's big data plan. Topics include: Applying the elements of Dynamic Customer Strategy Acquiring, mining, and analyzing data Metrics and models for big data utilization Shifting perspective from model to customer Big data is a tremendous opportunity for marketers and may just be the only factor that will allow marketers to keep pace with the changing consumer and thus keep brands relevant at a time of unprecedented choice. But like any tool, it must be wielded with skill and precision. Dynamic Customer Strategy: Big Profits from Big Data helps marketers shape a strategy that works.

Author: Ricardo V. Pilon
Publisher: Taylor & Francis
ISBN: 100090041X
Category : Transportation
Languages : en
Pages : 271

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Book Description
This book is a must read for aviation managers and all stakeholders that are interested in improving the business performance of airlines. In this book, the first of its kind on AI in Commercial Aviation, the author outlines how Machine Learning and AI are accelerating and improving the performance of airlines. Moreover, the author shares insights into many new use cases that emerging technology can deliver. He tackles all crucial functions from air navigation, flight operations, to sales, distribution, cargo, retailing, and commercial optimization. He then looks forward to blockchain and the metaverse and its opportunities. With connected devices and the Internet of Everything (IoE), airlines can become retailers, sell, deliver, and service holistic experiences tailored to individuals in real time. This requires airlines to modernize processes and practices supported by decision intelligence (AI) that ingests sophisticated insights and executes service automation in real time. Transforming airlines from a production to a services-based execution also requires departments to be aligned along overriding customer experience and profitability goals. The book demonstrates how AI can be deployed to redesign airline organization as well. The author also describes the next wave of business transformation around the integration of commercial functions using Composite AI at enterprise level. With his holistic understanding and experience in the airline industry, the author provides valuable insights and helps managers understand how to embrace ML and AI and contribute to future commercial aviation and cargo success.