Download or read book Price Maximizing Customer Loyalty Through Personalized Pricing written by Cactus Raazi and published by Lioncrest Publishing. This book was released on 2021-02-23 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: Price is the primary feature of every transaction-so why is it often treated as an afterthought? Most companies use pricing approaches developed before the internet, failing to harness modern analytics. Your customer relationships vary widely; shouldn't each customer's loyalty to your product or service be reflected in their price? In this age of increasing price transparency, uniform pricing is no longer sufficient. The best way forward is to create personalized pricing for your loyal customers and resist the constant discounting pressure of internet price aggregation.  In Price, Cactus Raazi invites you to shake loose of your pricing preconceptions. Whether you're a corporate executive or a sole proprietor, you'll see how personalized pricing can improve customer loyalty and turn episodic transactions into recurring revenue. With price transparency and aggressive discounting here to stay, now is the time to refocus your pricing approach on your individual customer.

Download or read book Personalized Pricing and Quality Customization written by Anindya Ghose and published by . This book was released on 2008 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: We embed the principal-agent model in a model of spatial differentiation with correlated consumer preferences to investigate the competitive implications of personalized pricing and quality allocation (PPQ), whereby duopoly firms charge different prices and offer different qualities to different consumers, based on their willingness-to-pay. Our model sheds light on the equilibrium product-line pricing and quality schedules offered by firms, given that none, one, or both firms implement PPQ. The adoption of PPQ has three effects in our model: it enables firms to extract higher rents from loyal customers, intensifies price competition for non-loyal customers, and eliminates cannibalization from customer self-selection. Contrary to prior literature on one-to-one marketing and price discrimination, we show that even symmetric firms can avoid the well-known Prisoner's Dilemma problem when they engage in personalized pricing and quality customization. When both firms have PPQ, consumer surplus is non-monotonic in valuations such that some low valuation consumers get higher surplus than high valuation consumers. The adoption of PPQ can reduce information asymmetry, and therefore sellers offer higher quality products after the adoption of PPQ. Overall, we find that while the simultaneous adoption of PPQ generally improves total social welfare and firm profits, it decreases total consumer surplus.

Download or read book Personalized Pricing with Imperfect Customer Recognition written by Stefano Colombo and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We consider a duopoly model where firms can identify only a share of consumers, which is positively correlated with the consumer' preferences. Firms charge personalized prices to the consumers they can recognize and a uniform price to the rest of consumers. The firms' available information is given by the combination of two factors: the intensive margin, which determines the share of consumers the firms can recognize in each single location, and the extensive margin, which determines how many locations the firms can identify. Different market configurations emerge according to the size of these margins. We characterize the values of the intensive and extensive margins that maximize firms' profits, and we show that profits are non-monotonic. We also show that the composition, in addition to the size, of the available information - i.e., the mix of these margins - affects firms' profits significantly. Implications for regulatory policies concerning the protection of consumers' information are finally discussed.

Download or read book The Art of Pricing written by Rafi Mohammed and published by Crown Pub. This book was released on 2005 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Furnishes a practical and easy-to-understand guide on how to use pricing to increase hidden profits and develop new growth opportunities, offering helpful advice, strategies, and techniques for increasing profit margins. 20,000 first printing.

Download or read book Using Strategy Analytics for Business Value Creation and Competitive Advantage written by Kautish, Sandeep Kumar and published by IGI Global. This book was released on 2024-07-26 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the field of strategic management and business intelligence, a formidable challenge is present—conventional decision-making processes, heavily reliant on internal and external reports, struggle to meet the demands of this data-driven era. As organizations grapple with the increasing influx of data, the imperative for a strategic shift becomes undeniably apparent. Using Strategy Analytics for Business Value Creation and Competitive Advantage helps to guide leaders in extracting value, structuring complex problems, and crafting robust business strategies. Scholars and industry experts alike will find within the pages of this comprehensive guide a roadmap to navigate the intersection of organizational strategy and analytics, ultimately unlocking the key to business brilliance. Using Strategy Analytics for Business Value Creation and Competitive Advantage stands as a testament to the commitment to addressing the prevailing challenges in strategic decision-making. Tailored for researchers, academicians, industry experts, and scholars, the book delves into the intricacies of strategy analytics, offering transformative insights for those seeking a competitive edge in the evolving business landscape. Capturing the essence of this exploration, the transformative potential of strategy analytics is encapsulated in this valuable resource.

Download or read book Strategic Customer Service written by John A. GOODMAN and published by AMACOM Div American Mgmt Assn. This book was released on 2009-05-13 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: The success of any organization depends on high-quality customer service. But for companies that strategically align customer service with their overall corporate strategy, it can transcend typical good business to become a profitable word-of-mouth machine that will transform the bottom line. Drawing on over thirty years of research for companies such as 3M, American Express, Chik-Fil-A, USAA, Coca-Cola, FedEx, GE, Cisco Systems, Neiman Marcus, and Toyota, author Goodman uses formal research, case studies, and patented practices to show readers how they can: • calculate the financial impact of good and bad customer service • make the financial case for customer service improvements • systematically identify the causes of problems • align customer service with their brand • harness customer service strategy into their organization's culture and behavior Filled with proven strategies and eye-opening case studies, this book challenges many aspects of conventional wisdom—using hard data—and reveals how any organization can earn more loyalty, win more customers...and improve their financial bottom line.

Download or read book The AI Marketing Playbook written by Mark Lamplugh and published by Walter de Gruyter GmbH & Co KG. This book was released on 2024-10-07 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explore the transformative world of AI-driven marketing by integrating Artificial Intelligence into modern marketing strategies. This book is designed to help businesses optimize their operations, personalize customer experiences, and harness the full potential of AI to drive growth and innovation. You will learn the foundational concepts of AI and machine learning, discover best practices for data hygiene, structuring, and optimization, and explore how AI tools can transform customer data into actionable insights, enhancing your ability to create personalized and effective marketing campaigns. The book is tailored for marketing professionals, business owners, and digital strategists who are eager to integrate AI into their marketing practices. It is equally valuable for beginners and experienced marketers who want to stay at the forefront of the rapidly evolving digital marketing landscape. FEATURES Includes step-by-step guides for implementing AI tools in SEO, social media, and email Covers the use of AI to analyze customer behavior, benefits of chatbots, and AI-powered customer service Features real-world cases from leading companies like Netflix, Amazon, and Spotify Uses AI tools to transform customer data into actionable insights for more effective campaigns TABLE OF CONTENTS 1: Introduction to AI Marketing. 2: Understanding AI and Machine Learning. 3: Preparing Your Data for AI. 4: Using AI to Analyze Customer Behavior. 5: Personalization with AI. 6: Chatbots and AI-Powered Customer Service. 7: Image and Video Recognition with AI. 8: Using AI for Social Media Marketing. 9: Predictive Analytics with AI. 10: Email Marketing with AI. 11: Search Engine Optimization with AI. 12: Using AI for Content Marketing. 13: Marketing Automation with AI. 14: Using AI for Sales Enablement. 15: Ethical Considerations and the Future of AI in Marketing.

Download or read book Marketing Theory Practice and Perspectives written by Dr. Qaisar Abbas Fatimi and published by Dr. Qaisar Abbas Fatimi. This book was released on 2024-03-10 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Imagine a small coffee shop in a quaint neighborhood, which, through the power of effective marketing, transforms into a global phenomenon. Picture a startup with a revolutionary idea, using just the right blend of marketing strategies to become a household name. These stories, and countless others, form the tapestry of marketing's rich and varied history, a tapestry this book aims to explore and elucidate. At the heart of our journey is the quest to understand the essence of marketing. We begin in the past, delving into the foundational theories crafted by pioneers of the trade. These theories, like the story of David Ogilvy who revolutionized advertising with his focus on direct, customer-centric messaging, lay the groundwork for all that marketing has become today. As we move through the chapters, we encounter the practices that have shaped the present landscape of marketing. We tell tales of companies like Nike, which harnessed the power of brand storytelling to build an empire, and of small businesses that leveraged social media marketing to compete with industry giants. These stories illuminate the practical applications of marketing theories, demonstrating their power and versatility. In addressing ethical and sustainable marketing, we recount narratives of brands like Patagonia, which has woven environmental responsibility into its marketing fabric, inspiring a generation of conscious consumers and marketers alike. These tales underscore the growing importance of ethics in marketing, highlighting the shift towards more responsible business practices. The digital revolution in marketing brings its own set of stories. We delve into the world of AI and VR, recounting how these technologies are creating new frontiers in customer engagement, much like how Spotify uses data analytics to personalize user experiences, redefining the music industry's marketing strategies. Data-driven marketing strategies are no less dramatic. We explore how Netflix's data analytics have not just shaped marketing campaigns but also content creation, turning viewer preferences into blockbuster hits. Our global perspective includes tales of cross-cultural marketing successes and faux pas, learning from brands that have skillfully navigated the complex tapestry of global markets, and from those who stumbled, offering invaluable lessons in the importance of cultural sensitivity. As we peer into the future, we share predictions and possibilities, like the potential impact of blockchain technology on marketing transparency and customer trust. These forward-looking perspectives prepare our readers for the exciting, uncharted territories of marketing yet to come. In crafting "Marketing: Theory, Practice, and Perspectives," the goal was not just to create a book but to weave a story – a story that captures the imagination, imparts wisdom, and inspires action. It is a story that invites you, the reader, to be a part of this incredible world of marketing, to learn from its past, engage with its present, and shape its future.

Download or read book Personalised Pricing A comprehensive and critical examination of first degree price discrimination written by and published by GRIN Verlag. This book was released on 2021-07-09 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Academic Paper from the year 2020 in the subject Business economics - General, grade: 72/100 (First Class Honours), Trinity College Dublin, language: English, abstract: This essay is about pricing, a core area of marketing. More specifically, it is about personalised pricing, which must not be confused with dynamic pricing. Personalised pricing describes adjusting the price for every single customer individually, while dynamic pricing describes adjusting the price for all customers subject to external factors like the current demand as of this moment, for example. If an airline company for instance lifts prices on weekends because demand is stronger on weekends in general, this is dynamic pricing. If the airline company however increases the price only for one particular customer, because they find out, for instance, that the customer uses a certain computer type which makes him likely to be wealthier than other customers, this is personalised pricing. The underlying motivation of this essay is to critically assess how personalised pricing is carried out and whether it should be adopted. Therefore, this essay takes the following approach and structure. Firstly, it is examined whether personalised pricing is legally permitted. Only if it is legally permitted to personalise prices it is worthwhile to further investigate this topic. Secondly, the customer’s willingness to pay is analysed. In order to personalise prices, it is necessary to know a customer’s exact willingness to pay. Thirdly, the topic of price elasticity is elaborated. It is necessary to assess whether profit is increased via increasing prices or decreasing prices and therefore higher demand. Fourthly, resulting retaliation as a consequence is explored. It is critically examined whether personalised pricing should be adopted, and empirical evidence is gathered to determine a retribution effect of personalised pricing which might end up making this practice unprofitable.

Download or read book Pricing Credit Products written by Robert L. Phillips and published by Stanford University Press. This book was released on 2018-07-10 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the 2008 financial crisis, it became apparent that pricing loans in a way that is profitable for lenders and sensitive to risk is anything but simple. Increasingly, lenders are following the lead of other retailers by segmenting their market and more precisely targeting customers. To do this successfully, lenders must engage analytic approaches, such as machine learning and optimization, in setting prices for each segment. Robert L. Phillips worked with major banks and financial services companies for more than a decade to help them improve their pricing capabilities. This book draws on his experience, as well as the latest academic research, to demonstrate how lenders can apply the proven techniques of price optimization to responsibly improve the profitability of their loans. It is a go-to resource for academics and professionals alike, particularly lenders who are looking for ways to do better business in an increasingly competitive (and regulated) market.

Download or read book AI Unleashed Harnessing Artificial Intelligence to Start and Grow Your Business written by Cassandra Fenyk and published by Fenyk Enterprises LLC. This book was released on 2023-05-15 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: AI Unleashed: Harnessing Artificial Intelligence to Start and Grow Your Business is a comprehensive guide that takes entrepreneurs on a transformative journey into the world of AI. From understanding the potential of AI to implementing it strategically in various aspects of business, this book provides invaluable insights and practical strategies for leveraging AI to achieve success. In this nine-chapter book, readers will explore the fascinating intersection of AI and entrepreneurship. Beginning with an introduction to AI in business, the book dispels common misconceptions and showcases real-world examples of organizations that have harnessed AI to revolutionize their operations. Readers will learn how to identify opportunities for AI integration within their business models and conduct market research to stay ahead of emerging trends. Practical guidance is provided for setting up the necessary infrastructure and acquiring the hardware and software resources to embark on the AI journey. The book delves into the intricacies of building and training AI models, offering readers a solid foundation in understanding different AI models and their applications. Step-by-step instructions are provided for collecting and preparing data for training, and popular AI frameworks and platforms are explored. This book may contain affiliate links. Using these links does not impact the amount that you are charged, but it does allow me to continue to create and offer amazing content and programs. Thank you for your support. With a focus on practical implementation, the book guides entrepreneurs through the process of integrating AI solutions into existing business processes. It covers topics such as enhancing customer experience through AI-powered chatbots and personalization, optimizing operations through automation and predictive analytics, and leveraging AI in marketing and sales for customer segmentation, pricing optimization, and more. As AI continues to evolve, ethical considerations are paramount. The book addresses these concerns, emphasizing the importance of transparency, accountability, and ethical decision-making in AI applications. It also highlights emerging trends and future possibilities, encouraging entrepreneurs to stay informed and adaptable. AI Unleashed is a must-read for business owners, managers, and aspiring entrepreneurs who are eager to leverage AI's transformative power. With its practical approach, real-world examples, and expert guidance, this book equips readers with the knowledge and tools to unlock the potential of AI and drive sustainable growth in their businesses. Embrace the AI revolution and propel your business forward with AI Unleashe

Download or read book Industrial Organization written by Paul Belleflamme and published by Cambridge University Press. This book was released on 2010-01-07 with total page 725 pages. Available in PDF, EPUB and Kindle. Book excerpt: Industrial Organization: Markets and Strategies provides an up-to-date account of modern industrial organization that blends theory with real-world applications. Written in a clear and accessible style, it acquaints the reader with the most important models for understanding strategies chosen by firms with market power and shows how such firms adapt to different market environments. It covers a wide range of topics including recent developments on product bundling, branding strategies, restrictions in vertical supply relationships, intellectual property protection, and two-sided markets, to name just a few. Models are presented in detail and the main results are summarized as lessons. Formal theory is complemented throughout by real-world cases that show students how it applies to actual organizational settings. The book is accompanied by a website containing a number of additional resources for lecturers and students, including exercises, answers to review questions, case material and slides.

Download or read book Behavior based Personalized Pricing when Firms Can Share Customer Information written by Chongwoo Choe and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We study a model of behavior-based price discrimination where firms can agree to share customer information that can be used for personalized pricing. We show that firms are better off sharing customer information as it softens up-front competition when they gather information, consumers are worse off as a result, but total surplus can increase thanks to the improved quality of matching between firms and consumers.

Download or read book Transformative Marketing written by V. Kumar and published by Springer Nature. This book was released on with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book DEVELOPMENT OF MARKETING AT AGRICULTURAL AND PROCESSING ENTERPRISES written by Bondarenko V., Sidorenko V., Hryshchenko A., Vyshnivska B., Nahorna O., Barylovych O., Riabchyk A., Zikranets M., Zbarskyi V., Mastylo A., Avramenko R., Galchynska J., Havryliuk Y., Kalkovska I., Heraimovych V., Humenyuk I., Golovnina O., Grydzhuk I. and published by International Science Group. This book was released on 2024-04-16 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: All rights reserved. Printed in the United States of America. No part of this publication may be reproduced, distributed, or transmitted, in any form or by any means, or stored in a data base or retrieval system, without the prior written permission of the publisher. The content and reliability of the articles are the responsibility of the authors. When using and borrowing materials reference to the publication is required.

Download or read book Is Your Price Personalized Alleviating Customer Concerns with Inventory Availability Information written by Arian Aflaki and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Extant literature has shown that personalized pricing (PP), i.e., customizing prices for individual customers, can benefit firms and some customers. However, customer concerns about being targeted by such practices have raised debates on PP tactics. Using a Bayesian persuasion framework, we study whether and under what conditions price can signal such PP implementation to customers. We also investigate whether disclosing inventory availability information can alleviate customer concerns and benefit the stakeholders, including the firm and customers. We consider a dynamic personalized pricing and information provisioning game between a firm and a market of heterogeneous customers. In the first period, the firm sets the price to learn the customer valuations and maximize revenue. In the second period, the firm may implement PP using customer purchase history. Customers are uncertain about the inventory availability and implementation of PP. Therefore, they may not precisely identify whether their purchase history will be used for pricing. However, they update their beliefs about the possibility of PP upon receiving new information. We first study myopic customers who only consider their immediate utility when purchasing. We then transition to strategic customers who take their future utility into account. We show that price alone cannot always signal PP, hurting the firm and customers. We establish conditions under which a binary inventory signal--where the firm marks the inventory as scarce when it is less than a threshold--increases the firm revenue and benefits customers. Thus, firms can create transparency over their pricing strategies by disclosing inventory availability information.

Download or read book Pricing written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-01-16 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is Pricing Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of product. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Pricing Chapter 2: Price discrimination Chapter 3: Information good Chapter 4: Product bundling Chapter 5: Sales promotion Chapter 6: Product differentiation Chapter 7: Porter's generic strategies Chapter 8: Relationship marketing Chapter 9: Yield management Chapter 10: Rebate (marketing) Chapter 11: Pricing strategies Chapter 12: Retail marketing Chapter 13: Aftermarket (merchandise) Chapter 14: Six forces model Chapter 15: Dynamic pricing Chapter 16: Value-based pricing Chapter 17: Geographical pricing Chapter 18: Premium pricing Chapter 19: Customer to customer Chapter 20: Pay what you want Chapter 21: Customer cost (II) Answering the public top questions about pricing. (III) Real world examples for the usage of pricing in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of pricing.