Every house needs an architect, but does your price list? In our first webinar on pricing rituals, we took a closer look at price elasticity measurement. We showed how performing regression analyses to determine the price elasticity of a product often resembles more of a ritual to make pricing managers feel...
A ritual is a sequence of activities involving words, actions, or objects. An important purpose of rituals is to simplify a complex challenge and to provide orientation for action – although there is often no causal relationship between the ritual and the solution to the challenge. For example, dancing does not cause...
The Corona pandemic has substantially slowed down the global economy and with it its most important coordinating mechanism – pricing. However, with the first countries again open for business and more announcing a return to normal, we should get prepared for pricing after the crisis. In this webinar, we want to cover...
The Corona pandemic is substantially affecting all economic activities and with it its most important mechanism – pricing. In this webinar, we will cover three aspects of the crisis: The behavioral observations and implications best highlighted in the omnipresence of toilet paper in the news because of a presumed...
Behavioral pricing continues to be a hot topic within the pricing field. However, there has been little progress in moving the topic beyond individual anecdotes of how for example The Economist increased sales via bundling or how Amazon increased sales with free shipping. While such examples make interesting stories,...
Promotions are an important component in FMCG sales. Getting their pricing right is key to success for FMCG companies – but it is also very difficult! Promotion managers need to choose between different promotion types, they need to select the right products, and they must set the right discounts. To optimize a...
Getting FMCG pricing right is key to success – but also very difficult. Customer needs evolve constantly, competitors frequently update their product range and introduce new products, and promotions drive sales to specific offers. At the same time, companies often have only limited access to sell-out data to see how...
The big challenge in B2B pricing comes from the need to optimize customer specific product offers and prices – typically without transparency on competition. In a two-part webinar series, we dive into B2B pricing and share our view on how to master it. In this second part, we show you the buynomics way of B2B...
The big challenge in B2B pricing comes from the need to optimize customer specific product offers and prices – typically without transparency on competitors’ offers. In a two-part webinar series, we will dive into B2B pricing and share our view on how to master it. In this first part, we will look at the...
At first glance, Artificial Intelligence and pricing look like a perfect pair. However, when you look behind the curtains, you see it’s complicated! The naïve approach of doing the same as before – like measuring price elasticities – but now using some standard machine learning library does not seem to work very well....