THE AI APPROACH The AI approach is based on processing all the available data and evaluating the connections and relationships between every single product, which sheds light on the various “ripple” effects – such as cross-category cannibalization/affinity, promotional and price elasticities, and forward-buying – that occur across the entire retailer’s product assortment anytime a decision […]
Want to devastate your financial performance? Simple. Get pricing wrong. And yet, 42% of retailers still primarily use spreadsheets for pricing and 34% use internally built software. What’s the problem with these traditional tools? For starters, both are incapable of supporting big data, machine learning and artificial intelligence (AI). You know, science. Which is a […]
Brian Meekle’s caravan is parked beside the M32 motorway that cuts through the eastern half of Bristol. Meekle has been living there for the past two months because he doesn’t earn enough from the 33-to-45-hour weeks he works at a nearby retail warehouse to pay the rent for a flat. “The rents in Bristol have […]
Most retailers are already engaged in data analytics and predictive modeling. Today, using data to predict more successful outcomes — ultimately leading to increased sales — is not as mystifying a concept as it was even a year ago. But with a market being upended by an omnichannel imperative and consumer demand for instant gratification, […]
In today’s polarized political environment, it’s hard to find any issue that an Illinois Democrat and a Florida Republican can agree on. Here’s one: the skyrocketing costs of prescription drugs are a scourge that must be dealt with as soon as possible. Drug companies are making record profits and at the same time raising the […]
Popular blogger mrbrown posted on his Twitter account yesterday about a suggestion he received to implement a surge pricing system for public transport. mrbrown, or Lee Kin Mun, said in his tweet that “Someone just suggested surge pricing for Public Transport”. In his tweet, he shared a screenshot of a letter to the Straits Times […]
“If finalized, this proposal is projected to save patients about $150 million in lower copayments for clinic visits provided at an off-campus hospital outpatient department,” the agency said in a press release. “CMS is also proposing to close a potential loophole through which providers are billing patients more for visits in hospital outpatient departments when […]
Perhaps it is time the public transport sector also starts to use dynamic pricing strategies, where fares rise during peak hours, just like fares for taxis. There will always be a demand for public transport. Even if each commuter is charged a few cents extra during peak hours, people will still use public transport because […]
South Shields Football Club has bowed to fan pressure after admitting it scored an own goal over its match pricing policy. Bosses have agreed to slash entry fees into Mariners Park for tomorrow’s home friendly against Northern League neighbours Hebburn Town. They say they acted in response to online and face-to-face feedback from supporters – […]
A strict stance on gambling, the difficulty in investing in the stock exchange, the rising prices and interest rates of properties, and the alluring emergence of cryptocurrency. These are some of the leading reasons why digital cash rose like a phoenix in South Korea. … The fiery demand, along with the smothering regulatory framework placed […]
This Week in Pricing > 12/8/18
TWIP is a digest of pricing focused news, thought leadership, events, jobs, training and certification resources for pricing professionals. This Edition is brought to you by: PriceBeam The struggle is real for B2B and B2C Pricing, Marketing, and Finance team leaders to capture fresh, reliable, and actionable Pricing Intelligence data to be able to effectively optimize all prices for all market segments […]
On-Demand Value-based Pricing Research with PriceBeam
The struggle is real for B2B and B2C Pricing, Marketing, and Finance team leaders to capture fresh, reliable, and actionable Pricing Intelligence data to be able to effectively optimize all prices for all market segments GLOBALLY. Almost all companies lose out on profits they should be earning as they either price themselves too low, leaving money on […]
As part of his Ph.D. research, Stephan Liozu studied the organizational and behavioral factors influencing the firm transformation towards pricing excellence. Pricing excellence combines both dimensions of pricing orientation and pricing realization leading too superior pricing power and ultimately to superior firm performance. During his research explorations, Stephan Liozu studied in depth the value-based pricing […]
PND is a digest of pricing focused news, thought leadership, events, jobs, training and certification resources for pricing professionals. This Edition is brought to you by: PriceBeam The struggle is real for B2B and B2C Pricing, Marketing, and Finance team leaders to capture fresh, reliable, and actionable Pricing Intelligence data to be able to effectively optimize all prices for all market segments […]
More Bad News From Apple As iPhone XR Price Slashed | Forbes
In the short-term, specifically through the rest of this calendar quarter, I don’t expect Apple to implement a direct price cut on the iPhone XR, iPhone XS, or iPhone XS Max to consumers. Although Tim Cook and his team are looking to move to services for more of its income, the “iPhone as a luxury […]
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