Pricing in the 21st century is driven by data. But how can you get it and – more importantly – use it to gain actionable insights? This webinar covers the role of data and its different sources in pricing – such as transactions or sales data, survey results, or expert judgement. Moreover, you will learn how digital...
How do people make purchasing decisions? This is the core question any pricing and product expert needs to answer. Of course, rational choice only plays a partial role in this – behavioral science has become ever more important in pricing. Most in the field are familiar with the basic behavioral concepts like “the...
If you want to know how basic pricing concepts are taken to the next level using digital this webinar is for you! Advances in the digitization of pricing are rapidly changing the workplace of today’s pricing managers. AI driven pricing engines are increasingly replacing gut feeling when it comes to complex price and...
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...