Consumer reaction to price is partially governed by whether that price is close to the “expected” price for the consumer. Yet consumers can override their internal reference prices (IRPs) and accept a higher-than-expected price. To better understand how they do so, it...
Our pricing strategy discussion for this issue concerns gifts vs. price discounts to encourage purchases. Which work best? Discount vs. Premium I just uncovered a very interesting piece of research from Sinha & Smith that ran in the journal of Psychology &...
No other solution offers access to Machine Learning for Price Optimizations with 3-clicks (sign-up, add API, and check optimal price)brainbi We are happy to announce a major release today: our Simple Price Optimization based on advanced machine learning. brainbi...
Especially self-employed people who are still in the early stages of their start-up are often uncertain how much they can charge for a certain service. As a rule, self-employed people in creative professions, in particular, sell themselves below value. Information on...
Objectives of the competitive analysis The objectives of a competitive analysis vary from company to company. The objectives determine which information must be collected and which methods of information acquisition and processing are necessary Possible objectives of...
To be able to implement a reasonable and effective pricing policy, the market environment must be known. For this purpose, a market analysis (or market research) is carried out. Market analysis is usually part of marketing, but can also be carried out as part of...
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