Tag: Pricing Science

Another Victory for the Behavioral Economists | Energy Institute Blog

Another Victory for the Behavioral Economists | Energy Institute Blog

Consumers Do Reduce Consumption When the Price Goes Up The first result in the paper validates our basic Econ 1 models. During the event windows, the customers in the treated group consumed on average 12 percent less than the customers in the control group. So, higher prices imply less consumption. Check. It’s also interesting to […]

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 […]

Growing Number Of Shoppers Visit Specialist Stores Over Mass Retailers | ESM Magazine

Growing Number Of Shoppers Visit Specialist Stores Over Mass Retailers | ESM Magazine

IRI’s study, which surveyed 2,600 consumers across seven European countries, reveals that make-up, perfumery and drug stores all outperform hypermarkets and supermarkets when it comes to customer satisfaction. The group attributes this to the higher level of customer experience that is delivered by specialist stores, aligned with shoppers’ expectations. “This a major challenge that manufacturers […]

Match Group’s Tinder emerges as cash cow courtesy of data science, dynamic pricing, paying off tech debt | ZDNet

Match Group’s Tinder emerges as cash cow courtesy of data science, dynamic pricing, paying off tech debt | ZDNet

The more interesting development will be seeing how Tinder uses artificial intelligence to drive matches as well as monetization and revenue growth. Tinder has been building its data science team and added Dr. Xue Liu, a computer science professor at McGill University, as its chief scientist. Tinder is also adding analytics and data science talent […]

British Airways Hints at Disrupting Its Loyalty Program in 2018 | Skift

British Airways Hints at Disrupting Its Loyalty Program in 2018 | Skift

The blog Ultima Llamada spotted the slide in the presentation that showed that IAG was working towards a “progressive introduction of dynamic pricing from 2018.” This means that instead of a standard award chart where travelers book a 25,000 mile domestic fare, for example, members of British Airways’ Executive Club would see award tickets priced as […]

Alaska Air Group faces tough pricing and rising costs in the home stretch of merger integration | CAPA

Alaska Air Group faces tough pricing and rising costs in the home stretch of merger integration | CAPA

Most US airlines have cited some pricing pressure in domestic markets, and Alaska Air Group is no different. The company has endured significant pressure on close-in pricing on its US transcontinental routes and intra-California network in recent months – two strategically important regions for the company as its merger integration with Virgin America continues. The […]

Profit Optimization is Not Just a Buzz Phrase for Room Revenue | Hospitality Net

Profit Optimization is Not Just a Buzz Phrase for Room Revenue | Hospitality Net

To better maximize revenue opportunities from meetings and events spaces, savvy hoteliers have looked to try and fold revenue management strategies into sales and catering processes. However, despite the positive evidence to support an integrated approach to sales, catering, meetings and revenue management, there hasn’t been a strong call for technology beyond sales and catering […]

Four pricing mistakes you need to avoid   | Dynamic Business Australia

Four pricing mistakes you need to avoid   | Dynamic Business Australia

One: The first mistake entrepreneurs and new businesses make is they often give too little thought to this highly complex matter and the consequences can be dire. Set your prices too low and you are leaving money on the table. Set your prices too high and nobody will buy your product or service. The right […]

Pricer’s Points: Navigating Big Data Analytics – “What if’s” in Dynamic Pricing | Tom Bacon

Pricer’s Points: Navigating Big Data Analytics – “What if’s” in Dynamic Pricing | Tom Bacon

Dynamic pricing is highly complex – and sometimes not intuitive.  A significant increase in observed demand for a period may not actually drive a significant increase in forecast demand.  And, many times even a large increase in forecast demand for a higher fare has little or no impact on the seats set aside for that […]

The Fat Years For U.S. Airlines Are Coming to an End | Bloomberg

The Fat Years For U.S. Airlines Are Coming to an End | Bloomberg

America’s passenger carriers have discovered that it’s getting more expensive to run an airline these days. While summertime profits were fine, and travel demand remains robust, a number of airlines are facing higher bills from a variety of factors: labor contracts, significant airport renovation projects, technology spending and fleet upgrades. The increase in expenses is creeeping into 2018 […]