From theory to practice: Real-world applications of scientific pricing across different industries

Scientific pricing began as a disparate collection of models and custom tools developed by researchers and industry specialists. In the last decade, however, scientific pricing has become a technology in its own right. Standardized pricing models and analytics are embedded into software components,...

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Vydané v:Journal of revenue and pricing management Ročník 5; číslo 2; s. 143 - 151
Hlavný autor: Valkov, Theodore
Médium: Journal Article
Jazyk:English
Vydavateľské údaje: London Palgrave Macmillan 01.07.2006
Predmet:
Consumer goods
Design
Manufacturing
Optimization
Pricing policies
Profits
Revenue
Software
Software industry
Software utilities
Studies
Technological change
ISSN:1476-6930, 1477-657X
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Abstract Scientific pricing began as a disparate collection of models and custom tools developed by researchers and industry specialists. In the last decade, however, scientific pricing has become a technology in its own right. Standardized pricing models and analytics are embedded into software components, which are deployed today across a growing number of Fortune 500 companies to power pricing and marketing business processes. This paper will review the key pricing models and analytics in industry use, and provide examples of their application. Every day, the research literature reports on new pricing models and methods. From PROS' privileged standpoint as the dominant vendor of pricing software, this paper provides highlights on the 'what' and the 'how' of the technology that is helping manage the price of an ever-increasing array of items around you -- from the plywood in your home to hamburgers, paper towels, latex gloves, motor oil and much more.
AbstractList Scientific pricing began as a disparate collection of models and custom tools developed by researchers and industry specialists. In the last decade, however, scientific pricing has become a technology in its own right. Standardized pricing models and analytics are embedded into software components, which are deployed today across a growing number of Fortune 500 companies to power pricing and marketing business processes. This paper will review the key pricing models and analytics in industry use, and provide examples of their application. Every day, the research literature reports on new pricing models and methods. From PROS' privileged standpoint as the dominant vendor of pricing software, this paper provides highlights on the 'what' and the 'how' of the technology that is helping manage the price of an ever-increasing array of items around you -- from the plywood in your home to hamburgers, paper towels, latex gloves, motor oil and much more.
Author Valkov, Theodore
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Copyright Copyright Palgrave Macmillan Limited Jul 2006
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StartPage 143
SubjectTerms Consumer goods
Design
Manufacturing
Optimization
Pricing policies
Profits
Revenue
Software
Software industry
Software utilities
Studies
Technological change
Title From theory to practice: Real-world applications of scientific pricing across different industries
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