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Operationalizing Dynamic Pricing Models
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Book Synopsis Operationalizing Dynamic Pricing Models by : Steffen Christ
Download or read book Operationalizing Dynamic Pricing Models written by Steffen Christ and published by Springer Science & Business Media. This book was released on 2011-04-02 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Operationalizing Dynamic Pricing Models by : Steffen Christ
Download or read book Operationalizing Dynamic Pricing Models written by Steffen Christ and published by Gabler Verlag. This book was released on 2011-01-13 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Behavioral Consequences of Dynamic Pricing by : David Prakash
Download or read book Behavioral Consequences of Dynamic Pricing written by David Prakash and published by BoD – Books on Demand. This book was released on 2022-08-19 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Evolution of Yield Management in the Airline Industry by : Ben Vinod
Download or read book The Evolution of Yield Management in the Airline Industry written by Ben Vinod and published by Springer Nature. This book was released on 2021-05-28 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Mastering the Travel Intermediaries by : Ben Vinod
Download or read book Mastering the Travel Intermediaries written by Ben Vinod and published by Springer Nature. This book was released on with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book FairPay written by Richard Reisman and published by Business Expert Press. This book was released on 2016-09-16 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Pricing Strategy Implementation by : Andreas Hinterhuber
Download or read book Pricing Strategy Implementation written by Andreas Hinterhuber and published by Routledge. This book was released on 2019-07-31 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis RFID and Sensor Network Automation in the Food Industry by : Selwyn Piramuthu
Download or read book RFID and Sensor Network Automation in the Food Industry written by Selwyn Piramuthu and published by John Wiley & Sons. This book was released on 2016-01-06 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Analytics and Dynamic Customer Strategy by : John F. Tanner, Jr.
Download or read book Analytics and Dynamic Customer Strategy written by John F. Tanner, Jr. and published by John Wiley & Sons. This book was released on 2014-06-30 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Artificial Intelligence in Commercial Aviation by : Ricardo V. Pilon
Download or read book Artificial Intelligence in Commercial Aviation written by Ricardo V. Pilon and published by Taylor & Francis. This book was released on 2023-07-10 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Innovators Unleashed: Strategies for Industry Domination by : Gaurav Garg
Download or read book Innovators Unleashed: Strategies for Industry Domination written by Gaurav Garg and published by Gaurav Garg. This book was released on 2023-07-28 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an increasingly complex and fast-changing business environment, strategy is vital to outmaneuver competitors and lead organizations forward. This book presents 36 compelling case studies spanning diverse companies across industries, geographies and business models. Real-world examples bring strategy principles to life - how visionary leaders anticipated change, set bold directions and built capabilities to deliver results. From turnarounds at Starbucks and Adidas to global expansion by Indian motorcycle maker Bajaj Auto, these 35 cases illustrate how strategy must align with specific organizational contexts. While drawing upon core principles, there is no one-size-fits-all approach - only creative application and adaption. Case contexts range from startups like Airbnb to incumbents like IBM reshaping themselves for the future. Industries profiled include tech giants Microsoft and Apple, consumer firms Nike and Reliance Jio, entertainment powerhouses Netflix and Disney, and manufacturing leaders Amul and Tesla. Each chapter follows a structured analysis of strategic context, key choices, execution and impact. The rich learning journey equips readers with frameworks and judgment to formulate strategy tailored to their unique business challenges and objectives. An interconnected world demands strategic thinking integrating global insight, local understanding and technological foresight. This casebook provides a powerful toolkit to build enduring companies in the digital age based on customer insight, disruptive innovation, operational excellence and purposeful leadership.
Book Synopsis The business model cycle by : Sophia von Berg
Download or read book The business model cycle written by Sophia von Berg and published by Cuvillier Verlag. This book was released on 2020-12-17 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, firms all over the world have to deal with dynamic business environments. Fast-moving digitalization has made information more transparent, strengthening the role of the customer. At the same time, the provider can have a much closer relationship with the user, thanks to real-time communication. However, corporate practice does not have a process for developing dynamic business models, and user-centric business models that can be designed and changed using smart technologies have not yet been systematically integrated. To stay competitive, companies need to rise to this challenge. The aim of this dissertation was to develop a dynamic, user-centric process model for business model design and change, and to evaluate the model’s ability to maintain a competitive advantage in the mobility sector. First, the differences between static, dynamic, and user-centric business models and their corresponding attributes were deduced. Then, these findings were combined into a process model using system dynamics logic. This model considers the user a co-creator of value and helps managers react to real-time changes in their business model environment. Finally, a mobility sector case study is presented to highlight the relevance of this model to real-world application. This business model cycle (BMC) supports the strategic management of dynamic, user-centric business model design and change activities. It describes a step by step procedure of business model design that includes ideation, prototyping, and integration of business model options. Moreover, it allows continuous monitoring of the business model environment and adaption of the model accordingly. At the same time, bidirectional interaction between the user and provider is possible, allowing the provider to adapt to their users’ needs. The BMC is unique in that these processes can take place simultaneously. Finally, the real-world case study in the mobility sector confirmed that using the BMC for strategic management maintains a lasting competitive business advantage.
Book Synopsis Assessing the Use of Agent-Based Models for Tobacco Regulation by : Institute of Medicine
Download or read book Assessing the Use of Agent-Based Models for Tobacco Regulation written by Institute of Medicine and published by National Academies Press. This book was released on 2015-07-17 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tobacco consumption continues to be the leading cause of preventable disease and death in the United States. The Food and Drug Administration (FDA) regulates the manufacture, distribution, and marketing of tobacco products - specifically cigarettes, cigarette tobacco, roll-your-own tobacco, and smokeless tobacco - to protect public health and reduce tobacco use in the United States. Given the strong social component inherent to tobacco use onset, cessation, and relapse, and given the heterogeneity of those social interactions, agent-based models have the potential to be an essential tool in assessing the effects of policies to control tobacco. Assessing the Use of Agent-Based Models for Tobacco Regulation describes the complex tobacco environment; discusses the usefulness of agent-based models to inform tobacco policy and regulation; presents an evaluation framework for policy-relevant agent-based models; examines the role and type of data needed to develop agent-based models for tobacco regulation; provides an assessment of the agent-based model developed for FDA; and offers strategies for using agent-based models to inform decision making in the future.
Book Synopsis Handbook of Research on Big Data Storage and Visualization Techniques by : Segall, Richard S.
Download or read book Handbook of Research on Big Data Storage and Visualization Techniques written by Segall, Richard S. and published by IGI Global. This book was released on 2018-01-05 with total page 1078 pages. Available in PDF, EPUB and Kindle. Book excerpt: The digital age has presented an exponential growth in the amount of data available to individuals looking to draw conclusions based on given or collected information across industries. Challenges associated with the analysis, security, sharing, storage, and visualization of large and complex data sets continue to plague data scientists and analysts alike as traditional data processing applications struggle to adequately manage big data. The Handbook of Research on Big Data Storage and Visualization Techniques is a critical scholarly resource that explores big data analytics and technologies and their role in developing a broad understanding of issues pertaining to the use of big data in multidisciplinary fields. Featuring coverage on a broad range of topics, such as architecture patterns, programing systems, and computational energy, this publication is geared towards professionals, researchers, and students seeking current research and application topics on the subject.
Book Synopsis Advanced Applications of Network Analysis in Marketing Science by : Chinmay Kakatkar
Download or read book Advanced Applications of Network Analysis in Marketing Science written by Chinmay Kakatkar and published by BoD – Books on Demand. This book was released on 2018-02-09 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world today is becoming a highly connected place. Firms, consumers and the devices they use are increasingly part of a complex, global network of connected entities. These networks represent a gold mine for marketing scholars that may be interested in developing a better understanding of consumer behavior, and for practitioners who are keen to discover new ways of gaining and retaining customers. This cumulative dissertation focuses on the use of network analysis to generate and analyze novel data in marketing. The work moves beyond the scope of traditional social network analysis to consider networks composed of different types of nodes at varying levels of granularity. The key aim is to demonstrate that network analysis can be used to investigate novel explanatory and outcome variables that hold contextual meaning and can deepen our understanding of the research question at hand. Essay 1 develops a predictive method based on product networks to identify customer projects in a retail setting. Essays 2 and 3 show the value of network analysis in new product development by recasting product ideas as networks of their constituent features. Essay 4 leverages network thinking to enable novel analyses of the fragmented and anonymized event data that will be generated in abundance by the Internet of Things. Ultimately, the essays showcase a selection of advanced applications of network analysis in marketing science that are arguably of value to scholars as well as practitioners, and likely to gain in relevance in the future.
Book Synopsis Supporting Operational and Real-time Planning Tasks of Road Freight Transport with Machine Learning. Guiding the Implementation of Machine Learning Algorithms by : Sandra Lechtenberg
Download or read book Supporting Operational and Real-time Planning Tasks of Road Freight Transport with Machine Learning. Guiding the Implementation of Machine Learning Algorithms written by Sandra Lechtenberg and published by Logos Verlag Berlin GmbH. This book was released on 2023-10-26 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: World-wide trends such as globalization, demographic shifts, increased customer demands, and shorter product lifecycles present a significant challenge to the road freight transport industry: meeting the growing road freight transport demand economically while striving for sustainability. Artificial intelligence, particularly machine learning, is expected to empower transport planners to incorporate more information and react quicker to the fast-changing decision environment. Hence, using machine learning can lead to more efficient and effective transport planning. However, despite the promising prospects of machine learning in road freight transport planning, both academia and industry struggle to identify and implement suitable use cases to gain a competitive edge. In her dissertation, Sandra Lechtenberg explores how machine learning can enhance decision-making in operational and real-time road freight transport planning. She outlines an implementation guideline, which involves identifying decision tasks in planning processes, assessing their suitability for machine learning, and proposing steps to follow when implementing respective algorithms.
Download or read book Management Science written by and published by . This book was released on 2005-05 with total page 682 pages. Available in PDF, EPUB and Kindle. Book excerpt: Issues for Feb. 1965-Aug. 1967 include Bulletin of the Institute of Management Sciences.
