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Pricing Segmentation and Analytics is a five-chapter book written by Tudor Bodea, Assistant Professor in the Operations Group at the University of Groningen, and Mark Ferguson, Professor of Technology and Management at Georgia Tech's College of Management. The book was published by Business Expert Press in 2012. The pricing of products and services is among the most important decisions directly impacting the bottom line of any business. This book presents a highly methodical approach to pricing analytics, applying a set of tools that use historical sales data and mathematical optimization to set and update prices offered through various channels in order to maximize profit. The authors guide both students and professionals on how to identify and exploit pricing opportunities in various business contexts. The first chapter introduces the basic concepts of pricing analytics and explains what types of data can be manipulated. Common assumptions regarding the customer's willingness-to-pay are discussed, along with price-response functions. The authors explain how to estimate price elasticity, and how it varies at the product, firm, and industry levels, as well as in the short term versus long term. Basic price optimization techniques are then explored.

Pricing Segmentation and Analytics, is a five-chapter book written by Tudor Bodea, Assistant Professor in the Operations Group at the University of Groningen, and Mark Ferguson, Professor of Technology and Management at Georgia Tech's College of Management. The book was published by Business Expert Press in 2012. The pricing of products and services is among the most important decisions directly impacting the bottom line of any business. This book presents a highly methodical approach to pricing analytics, applying a set of tools that use historical sales data and mathematical optimization to set and update prices offered through various channels in order to maximize profit. The authors guide both students and professionals on how to identify and exploit pricing opportunities in various business contexts. In the second chapter, the authors provide an overview for developing pricing capabilities within an organization. Major topics discussed include techniques for selecting appropriate methods for estimating price elasticity, as well as the variables to consider when estimating promotion effects and price optimization.

Pricing Segmentation and Analytics, is a five-chapter book written by Tudor Bodea, Assistant Professor in the Operations Group at the University of Groningen, and Mark Ferguson, Professor of Technology and Management at Georgia Tech's College of Management. The book was published by Business Expert Press in 2012. The pricing of products and services is among the most important decisions directly impacting the bottom line of any business. This book presents a highly methodical approach to pricing analytics, applying a set of tools that use historical sales data and mathematical optimization to set and update prices offered through various channels in order to maximize profit. The authors guide both students and professionals on how to identify and exploit pricing opportunities in various business contexts. The third chapter explores dynamic pricing, the practice of continuously adjusting prices to maximize profit by shaping demand (through price changes) to meet the available supply. In practice, this involves quoting each customer her or his individual price. Markdown optimization, an analytical tool used to clear excess inventory with respect to profit margins, and one of the most common and practical forms of dynamic pricing, is then examined. The chapter concludes with two case studies examining how price markdowns can be used in practice.

Pricing Segmentation and Analytics is a five-chapter book written by Tudor Bodea, Assistant Professor in the Operations Group at the University of Groningen, and Mark Ferguson, Professor of Technology and Management at Georgia Tech's College of Management. The book was published by Business Expert Press in 2012. The pricing of products and services is among the most important decisions directly impacting the bottom line of any business. This book presents a highly methodical approach to pricing analytics, applying a set of tools that use historical sales data and mathematical optimization to set and update prices offered through various channels in order to maximize profit. The authors guide both students and professionals on how to identify and exploit pricing opportunities in various business contexts. The fourth chapter explores customized pricing analytics, where a firm responds to a request-for-bids or request-for-proposals with a customized price response. The pricing analytics methodology is described in a step-by-step process from an actual application.

Pricing Segmentation and Analytics is a five-chapter book written by Tudor Bodea, Assistant Professor in the Operations Group at the University of Groningen, and Mark Ferguson, Professor of Technology and Management at Georgia Tech's College of Management. The book was published by Business Expert Press in 2012. The pricing of products and services is among the most important decisions directly impacting the bottom line of any business. This book presents a highly methodical approach to pricing analytics, applying a set of tools that use historical sales data and mathematical optimization to set and update prices offered through various channels in order to maximize profit. The authors guide both students and professionals on how to identify and exploit pricing opportunities in various business contexts. The fifth and final chapter examines aspects of behavioral science to pricing. Examples include the asymmetry of joy and pain that customers feel in response to price decreases and increases. The authors offer a set of best pricing practices based on these behavioral responses.

Pricing Segmentation and Analytics is a five-chapter book written by Tudor Bodea, Assistant Professor in the Operations Group at the University of Groningen, and Mark Ferguson, Professor of Technology and Management at Georgia Tech's College of Management. The book was published by Business Expert Press in 2012. The pricing of products and services is among the most important decisions directly impacting the bottom line of any business. This book presents a highly methodical approach to pricing analytics, applying a set of tools that use historical sales data and mathematical optimization to set and update prices offered through various channels in order to maximize profit. The authors guide both students and professionals on how to identify and exploit pricing opportunities in various business contexts. The book's appendix explores the commonly used tool of logistic regression, specifically dichotomous logistic regression. Major topics include: linear and logistic regression models for dichotomous response variables, the estimation of dichotomous logistic regression models, the logit link function and the odds ratio, and the quality of the fit of a dichotomous logistic regression model.