Smart Pricing: Linking Pricing Decisions With Operational Insights

The past decade has seen a virtual explosion of information about customers and their preferences. This information potentially allows companies to increase their revenues, in particular since modern technology enables price changes to be effected at minimal cost. Pricing decisions have a direct effect on operations and visa versa. This article reviews a number of key linkages between pricing and operations. In particular, it highlights different drivers for dynamic pricing strategies. Through the discussion of key references and related software developments the paper aims to provide a snapshot into a rich and evolving field.

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