Tag: Segmentation

Why Businesses Should Lower Prices During Natural Disasters | Harvard Business Review

Why Businesses Should Lower Prices During Natural Disasters | Harvard Business Review

It’s a longstanding debate that’s reemerged during Hurricanes Irma and Harvey: During a time of crisis, should merchants raise or maintain prices when demand increases for essential products such as water, gas, and bread? Now, due to the influence of social media, a new alternative is emerging: Why not lower prices during these critical times? Economists usually […]

Tourism and technology: What the future holds for travel distribution | Times of Malta

Tourism and technology: What the future holds for travel distribution | Times of Malta

Tourism service providers are increasingly focusing on incremental improvements to how consumers book and experience their product. With the changing landscape of e-commerce and the ubiquity of technological solutions, which gather, store, and analyse data, more travel businesses are monitoring their performance across channels. Very often, they are in a position to adjust their marketing […]

Scientific Pricing Made Easy | Twice

Scientific Pricing Made Easy | Twice

Setting retail prices can be based upon a number of factors. First, most retailers are obsessed with their competitors’ prices and can be relentless about matching them. But besides just matching the competition, there are all sorts of other ways to price, including: cost-plus, keystone and other more random methods. For example, China’s retailers like […]

European duty free ‘poised for big gains post Brexit’ | Travel Retail Business

European duty free ‘poised for big gains post Brexit’ | Travel Retail Business

WILL THE OPPORTUNITY TO RESTORE REAL VALUE BE TAKEN UP? He said: “This type of analysis is imperative to both suppliers and retailers as their pricing strategy at some airports in particular will need to be adjusted. The restitution of duty free sales on these UK-Europe routes may well present an unprecedented opportunity to all […]

“Luxury” versus “discount” pricing and the meaning of the number 9 | Sociological Images

“Luxury” versus “discount” pricing and the meaning of the number 9 | Sociological Images

I discovered a nice gem of an insight this week in an article called The 11 Ways That Consumers Are Hopeless at Math: the symbolism of the number 9. We’re all familiar with the convention of pricing items one penny below a round number: $1.99 instead of $2.00, $39.99 instead of $40.00, etc. Psychologically, marketers know […]

How to Turn Online Data into a Pricing Strategy That Works | Knowledge@Wharton

How to Turn Online Data into a Pricing Strategy That Works | Knowledge@Wharton

Knowledge@Wharton: Is there a clear indication of how companies should be playing with price based on how someone is monitoring price? Moon: Those are exactly some of the issues that we wanted to explore in this research. One of the interesting things that we found is that, even in this very informationally rich space, sometimes […]

How Big Data Helps Companies Sale Better | BusinessZone

How Big Data Helps Companies Sale Better | BusinessZone

In 2017, every other company looks up to big data for a more profitable and efficient business process. Here’s how it has been helping them sale better: 1. Optimized Pricing Strategy According to a research conducted by McKensey, more than 25% business revenues are generated with new and innovating pricing. It might sound untrue, but […]

Why is Dynamic Pricing Important to Header Bidding? | MarTech Advisor

Why is Dynamic Pricing Important to Header Bidding? | MarTech Advisor

Header bidding reveals the true benefits of dynamic pricing and highlights that it is the critical feature that has driven its adoption. Without dynamic pricing, header bidding would not be needed, and it was the need to include programmatic buyers within DFP that initially drove header bidding. In addition, the combination of dynamic pricing and […]

Dynamic Pricing Benefits Everyone – Part 2 | Strategic Pricing Solutions

Dynamic Pricing Benefits Everyone – Part 2 | Strategic Pricing Solutions

In my last blog post, Dynamic Pricing Benefits Everyone. Politicians Should Stay Out of It, I described the many ways in which dynamic pricing benefits us all.  As you can tell from the title, I also urged politicians to resist their natural desire to regulate things.  Within a couple days of my post, there was […]

Is Your Business Unknowingly Engaged in Deceptive Pricing | NCR Silver

Is Your Business Unknowingly Engaged in Deceptive Pricing | NCR Silver

Making comparisons to former prices What the guidelines say: One of the most common ways to advertise discount pricing is to offer a discount based on your own pricing. That’s legitimate, as long as you do it honestly. The former price must be one that the product was actually sold to the public for, and […]