Tag: Pricing Research

Robust Dynamic Pricing with Two Substitutable Products | Manufacturing & Service Operations Management

Robust Dynamic Pricing with Two Substitutable Products | Manufacturing & Service Operations Management

We consider a practical dynamic pricing problem with two substitutable products involving a number of business rules commonly seen in practice. Demand substitution exists between the two products (interproduct substitution) and may also exist across different time periods (intertemporal substitution). However, there is limited demand information such that the underlying probability distributions of the demand […]

Walmart’s Next Pricing Strategy Is…Raising Select Prices Online? | Retail TouchPoints

Walmart’s Next Pricing Strategy Is…Raising Select Prices Online? | Retail TouchPoints

“Providing a cheaper price or a discount for picking up an online order in-store makes sense — after all, it is cheaper for Walmart to fulfill in this way and it gets the potential benefit of incremental sales when the customer collects,” said Neil Saunders, Managing Director at GlobalData Retail, in a RetailWire discussion. “However, […]

Consumers use price transparency tools to financially plan, not shop around | Modern Healthcare

Consumers use price transparency tools to financially plan, not shop around | Modern Healthcare

The majority of healthcare consumers use price transparency tools to financially plan, a new survey found, contradicting claims that consumers will shop around for the cheapest providers if they know the price before obtaining care. The survey, released this week by Accenture, reported that nearly half of consumers, 46%, seek price information to budget for […]

How Much Energy Can You Cram Into Your Halloween Candy? | WIRED

How Much Energy Can You Cram Into Your Halloween Candy? | WIRED

All candies are not equal; some might have more stuff in them that does not add to the total calorie value. But overall, there seems to be fairly nice correlation between candy mass and candy energy. From the graph, candy has an energy density around 22 megajoules per kilogram. But how does this energy density […]

Ohioans spend the least of any state in the country on Halloween candy, analysis says | WCPO Cincinnati, OH

Ohioans spend the least of any state in the country on Halloween candy, analysis says | WCPO Cincinnati, OH

A new analysis by Denver-based tech company Ibotta says people in the Buckeye State spend the least amount of money on Halloween candy nationwide. Shame on us. The analysis looked at 150,000 receipts for candy bought the week before Halloween in 2015 and 2016, revealing Oregonians as the most generous at Halloween, buying an average […]

The Psychology of Competitive Pricing for Ecommerce | Business2Community

The Psychology of Competitive Pricing for Ecommerce | Business2Community

Pricing for ecommerce is a tricky beast. You need to account for competition with other sellers, but you don’t want to de-value your products in a race-to-the-bottom. Purely competitive pricing can lead to disappointing results: you might not sell enough to compensate for offering the lowest prices. A profitable pricing strategy involves considering not only […]

Predicting sales of online products from advertising language | Stanford News

Predicting sales of online products from advertising language | Stanford News

Challenges of language analysis Online vendors have long struggled to figure out why the exact same product offered on different websites has varying sales figures. Previous research focused on online consumers’ reactions to product reviews and word-of-mouth recommendations. But product descriptions haven’t received as much attention because studying the effects of language on consumer habits […]

How to make personalized pricing work | Business Today

How to make personalized pricing work | Business Today

With so much benefit for the consumers why is there so much consumer and regulatory backlash against the new-age companies for their pricing strategies? It is to do with the lack of trust. In the process of haggling the consumers are involved in the price formation process face-to-face and settle at what both sides agree […]

New app solves local dining debate with luck | Newark Post

New app solves local dining debate with luck | Newark Post

Cherian Thomas could notice a trend on the horizon: dynamic pricing was helping some of the internet age’s biggest companies swallow up market share. But he was troubled when some of those best practices weren’t being applied to one of the most common choices that customers make: where to eat. “When you look at Priceline, […]

More Bang For Your Buck: Save money at local restaurants with Sp | NBC12 – WWBT

More Bang For Your Buck: Save money at local restaurants with Sp | NBC12 – WWBT

RICHMOND, VA (WWBT) – Richmond’s restaurants have put us on the map as one of the top places in the world to travel for food. There’s a new way for you try some of the RVA’s hottest spots without paying full price. It’s the age old question, where do you want to eat? Spotluck has […]