Tag: Pricing Science

The marriage of RM & merchandising: a logical next step for airlines | EyeforTravel

The marriage of RM & merchandising: a logical next step for airlines | EyeforTravel

The notion of ‘right product, at right time and at right price’ may be something airlines understand only too well but they still aren’t getting it right. Tom Bacon has some suggestions … However, despite consensus that there is a huge new opportunity, true personalisation remains elusive. Some of the problems include: · Airlines still […]

Fuel pricing: Kachikwu’s desperate options – Henry Boyo | Vanguard News

Fuel pricing: Kachikwu’s desperate options – Henry Boyo | Vanguard News

In retrospect, Kachikwu had, infact, told reporters in Abuja on 15th December 2015, that “fuel price would no longer be fixed” and also noted that “the price of crude would continue to determine what petrol price will be”. It is instructive that Kachikwu’s statement on fuel price ‘deregulation’, was made at a time when crude […]

Cabs to cost more as govt sets new minimum fare | Bangalore Mirror

Cabs to cost more as govt sets new minimum fare | Bangalore Mirror

Commuters who opt for cabs will have to pay more from their pockets as the state government has fixed a minimum fare of Rs 44 on small cabs and Rs 80 for luxury cabs for the first four kilometres. The government has issued an order to Karnataka State Transport Authority and all regional transport authorities […]

2018: The ‘Year of AI and Machine Learning’ for Financial Marketers | The Financial Brand

2018: The ‘Year of AI and Machine Learning’ for Financial Marketers | The Financial Brand

5. Product Pricing Should products and services be priced exactly the same for every customer or member in your database? Optimally, product and service pricing should reflect the profitability of the relationship and the overall impact a specific pricing decision would make on the relationship (similar to pricing done in commercial business relationships). With dozens […]

Why airlines need to segment smarter | EyeforTravel

Why airlines need to segment smarter | EyeforTravel

At one airline, Williams’ methodology led to airline was further breaking down business and leisure into sub-segments. He identified seven such segments; four business and three leisure. Business segments included both commuters (short haul; out on Monday, back on Friday) and seasonal workers (long stays); leisure included a differentiation between weekend vacationers and weekday vacationers. […]

Government rejects Parliamentary panel suggestion to cap airfares | India Today

Government rejects Parliamentary panel suggestion to cap airfares | India Today

The report clearly placed the onus on the Ministry of Civil Aviation to fix things. It read, “The Ministry of Civil Aviation, though aware of the rampant exploitation, is not showing any proactive role in regulating airfares. The Committee therefore recommends the Ministry of Civil Aviation to consider fixing an upper limit of fares for […]

This Is How Airlines Determine the Price of Flights | Civilized

This Is How Airlines Determine the Price of Flights | Civilized

Airline ticket prices seemingly change every day, week, or hour, without notice, but there’s actually a real science behind this. Some people spend their whole lives trying to figure out how much to charge each passenger when they fly, because there are many factors that go into ticket pricing. In order to understand this science […]

Evolution Of The Four Ps: Revisiting The Marketing Mix | Forbes

Evolution Of The Four Ps: Revisiting The Marketing Mix | Forbes

Price Simply put, price refers to how much a customer is willing to pay for a product or service. Pricing strategies are becoming more dynamic to keep up with highly educated consumers. For instance, discounting strategies could be permanently anchored in the minds of consumers, who may refuse to pay retail prices later. The advancement […]

‘Fares hiked due to higher demand’: Pricing algorithms threaten to tip fine balance between consumer protection, market competition | FirstPost

‘Fares hiked due to higher demand’: Pricing algorithms threaten to tip fine balance between consumer protection, market competition | FirstPost

One such manifestation of such technological developments as indicated in the Vidhi Report are pricing algorithms. Such pricing algorithms are commonly employed by online businesses, particularly in airline, hotel booking and road transport industries, which heavily rely on sophisticated pricing tools to determine and update their prices. For instance, it is common to experience surge […]

Aeroflot denies reports on higher air ticket prices during FIFA World Cup in Russia | TASS

Aeroflot denies reports on higher air ticket prices during FIFA World Cup in Russia | TASS

MOSCOW, December 27. /TASS/. Russia’s flagship carrier Aeroflot did not raise its tariffs for the days of the 2018 World Cup, a spokesperson with the airline told TASS. Earlier, the publication of RBC published a study saying that the prices for air tickets to the cities of the World Cup 2018 soared by an average […]