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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 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 Revenue Management and Pricing Analytics by : Guillermo Gallego
Download or read book Revenue Management and Pricing Analytics written by Guillermo Gallego and published by Springer. This book was released on 2019-08-14 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: “There is no strategic investment that has a higher return than investing in good pricing, and the text by Gallego and Topaloghu provides the best technical treatment of pricing strategy and tactics available.” Preston McAfee, the J. Stanley Johnson Professor, California Institute of Technology and Chief Economist and Corp VP, Microsoft. “The book by Gallego and Topaloglu provides a fresh, up-to-date and in depth treatment of revenue management and pricing. It fills an important gap as it covers not only traditional revenue management topics also new and important topics such as revenue management under customer choice as well as pricing under competition and online learning. The book can be used for different audiences that range from advanced undergraduate students to masters and PhD students. It provides an in-depth treatment covering recent state of the art topics in an interesting and innovative way. I highly recommend it." Professor Georgia Perakis, the William F. Pounds Professor of Operations Research and Operations Management at the Sloan School of Management, Massachusetts Institute of Technology, Cambridge, Massachusetts. “This book is an important and timely addition to the pricing analytics literature by two authors who have made major contributions to the field. It covers traditional revenue management as well as assortment optimization and dynamic pricing. The comprehensive treatment of choice models in each application is particularly welcome. It is mathematically rigorous but accessible to students at the advanced undergraduate or graduate levels with a rich set of exercises at the end of each chapter. This book is highly recommended for Masters or PhD level courses on the topic and is a necessity for researchers with an interest in the field.” Robert L. Phillips, Director of Pricing Research at Amazon “At last, a serious and comprehensive treatment of modern revenue management and assortment optimization integrated with choice modeling. In this book, Gallego and Topaloglu provide the underlying model derivations together with a wide range of applications and examples; all of these facets will better equip students for handling real-world problems. For mathematically inclined researchers and practitioners, it will doubtless prove to be thought-provoking and an invaluable reference.” Richard Ratliff, Research Scientist at Sabre “This book, written by two of the leading researchers in the area, brings together in one place most of the recent research on revenue management and pricing analytics. New industries (ride sharing, cloud computing, restaurants) and new developments in the airline and hotel industries make this book very timely and relevant, and will serve as a critical reference for researchers.” Professor Kalyan Talluri, the Munjal Chair in Global Business and Operations, Imperial College, London, UK.
Book Synopsis Pricing and Revenue Optimization by : Robert Lewis Phillips
Download or read book Pricing and Revenue Optimization written by Robert Lewis Phillips and published by Stanford University Press. This book was released on 2005-08-05 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written for MBA students and practitioners, this book is a comprehensive introduction to the theory and application of pricing and revenue optimization.
Book Synopsis The Extinction of the Price Tag by : Sahaj Sharda
Download or read book The Extinction of the Price Tag written by Sahaj Sharda and published by . This book was released on 2018-04-18 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Pricing and Revenue Management of Services by : Irene C.L. Ng
Download or read book The Pricing and Revenue Management of Services written by Irene C.L. Ng and published by Routledge. This book was released on 2007-07-26 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a world of changing lifestyles brought about by new services, technology and e-commerce, this book enters the arena of contemporary research with particular topicality. Integrating both theory and real world practices, Ng advances the latest concepts in pricing and revenue management for services in a language that is useful, prescriptive and yet thought-provoking. The first part of the book discusses the buyer as an individual, presenting the concepts behind what motivates purchase and the role of price within the motivation. The second part discusses the buyer in aggregate, investigating advanced demand, price discrimination and segmentation in service. Ng’s aim is to offer a strategic guide to increase revenue in services, drawing from various disciplines, whilst maintaining a strong marketing slant. Grounding the book on actual research in services, Ng is keen to highlight how the concepts and theories of pricing strategy can be combined and applied practically in a way that is easy to read and stimulating. This book will be of much interest to professionals and academics alike, specifically for managers in the service industry and as a text for executive training programmes. It would also be a useful supplementary text for students engaged with marketing and revenue and operations management in services.
Book Synopsis The Oxford Handbook of Pricing Management by : Özalp Özer
Download or read book The Oxford Handbook of Pricing Management written by Özalp Özer and published by Oxford University Press. This book was released on 2012-06-07 with total page 977 pages. Available in PDF, EPUB and Kindle. Book excerpt: A definitive reference to the theory and practice of pricing across industries, environments, and methodologies. It covers all major areas of pricing including, pricing fundamentals, pricing tactics, and pricing management.
Book Synopsis Internet Resource Pricing Models by : Ke Xu
Download or read book Internet Resource Pricing Models written by Ke Xu and published by Springer Science & Business Media. This book was released on 2013-08-13 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: This brief guides the reader through three basic Internet resource pricing models using an Internet cost analysis. Addressing the evolution of service types, it presents several corresponding mechanisms which can ensure pricing implementation and resource allocation. The authors discuss utility optimization of network pricing methods in economics and underline two classes of pricing methods including system optimization and entities' strategic optimization. The brief closes with two examples of the newly proposed pricing strategy helping to solve the profit distribution problem brought by P2P free-riding and improve the pricing efficiency with the introduction of the price discrimination. The Internet resource pricing strategy is not only the key factor of Internet resource allocation efficiency, but also the determinant of the profit. The methods and models discussed in Internet Resource Pricing Models increase the efficiency of existing pricing strategies to ensure a sound and sustainable development of the Internet. The brief will help researchers and professionals working with this key factor of Internet resource allocation.
Book Synopsis Pricing and Revenue Optimization by : Robert L. Phillips
Download or read book Pricing and Revenue Optimization written by Robert L. Phillips and published by Stanford University Press. This book was released on 2021-05-18 with total page 503 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers the first introduction to the concepts, theories, and applications of pricing and revenue optimization. From the initial success of "yield management" in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimize pricing has become increasingly important across many different industries. But, since pricing and revenue optimization has involved the use of sophisticated mathematical techniques, the topic has remained largely inaccessible to students and the typical manager. With methods proven in the MBA courses taught by the author at Columbia and Stanford Business Schools, this book presents the basic concepts of pricing and revenue optimization in a form accessible to MBA students, MS students, and advanced undergraduates. In addition, managers will find the practical approach to the issue of pricing and revenue optimization invaluable. With updates to every chapter, this second edition covers topics such as estimation of price-response functions and machine-learning-based price optimization. New discussions of applications of dynamic pricing and revenue management by companies such as Amazon, Uber, and Disney, and in industries such as sports, theater, and electric power, are also included. In addition, the book provides current coverage of important applications such as revenue management, markdown management, customized pricing, and the behavioral economics of pricing.
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 165 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.
Download or read book Pricing Strategies written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-04 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Pricing Strategies When it comes to selling a product or service, a company has a number of different pricing techniques at its disposal. The top executives of a firm must first assess the company's price position, pricing segment, pricing capabilities, and competition pricing reaction strategy before they can choose which pricing strategy will be the most beneficial for the company. Pricing strategies and tactics varies not only from one company to the next, but also from one nation to another, from one culture to another, from one industry to another, and over the course of time, as a result of the maturation of industries and marketplaces as well as wider economic conditions. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Pricing strategies Chapter 2: Monopoly Chapter 3: Price discrimination Chapter 4: Product bundling Chapter 5: Pricing Chapter 6: Product differentiation Chapter 7: Porter's five forces analysis Chapter 8: Price skimming Chapter 9: Cost-plus pricing Chapter 10: Porter's generic strategies Chapter 11: Barriers to entry Chapter 12: Yield management Chapter 13: Non-price competition Chapter 14: Rebate (marketing) Chapter 15: Dynamic pricing Chapter 16: Value-based pricing Chapter 17: Marketing channel Chapter 18: Premium pricing Chapter 19: Pay what you want Chapter 20: Customer cost Chapter 21: Types of e-commerce (II) Answering the public top questions about pricing strategies. (III) Real world examples for the usage of pricing strategies in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Pricing Strategies.
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 320 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 Dynamic pricing strategy for new consumer durables by : Pil Hwa Yoo
Download or read book Dynamic pricing strategy for new consumer durables written by Pil Hwa Yoo and published by . This book was released on 1987 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Download or read book Pricing written by Tudor Bodea and published by Business Expert Press. This book was released on 2012-01-18 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
