Price Elasticity - the Good, the Bad and the Ugly
In this, and two follow-up blogs, we take a closer look at key facets of price elasticity.
The Good: How in simple cases, price elasticity can be used to maximize revenue or profit.
The Bad: How in most cases, price elasticity cannot be estimated with the necessary precision to be useful for pricing.
The Ugly: How pricing on price elasticity completely falls apart in a market with multiple products and competition.