Pricing is one of the most challenging topics
Pricing has an enormous impact when it comes to making a loss or a profit. In today’s business world, prices are frequently changed by algorithms that try to make best use of the available data. In general terms, Dynamic Pricing refers to estimating & using the price-demand relationship in order to maximize the overall revenue. But there is much more behind to make it right.
what we can offer you
Adjust prices in real time based on demand and inventory levels
Offer personalized pricing based on customer behavior and preferences
Respond quickly to market conditions
Make efficient use of inventory and resources
Adjust prices in real time based on demand and inventory levels
Offer personalized pricing based on customer behavior and preferences
Respond quickly to market conditions
Make efficient use of inventory and resources
Willingness-to-pay
It all boils down to a good estimation of the customer’s (best case individual) WTP, or as we like to think about it as a probability = the “price acceptance” probability.
This requires a good understanding of the underlying customer’s choice process.
Dynamic Pricing Competition
Since 2019 we are also organizing & hosting the Dynamic Pricing Competition – Bringing together Academia and Industry to compete in algorithms
