The course explores the importance of considering the full spectrum of customer behaviors as a core of a customer-centric business model and how these behaviors affect the optimal pricing, product offering and promotion decisions. General strategies for business-to-business and business-to-consumer customer analytics are studied, and examples from a variety of enterprises are compared and contrasted. An integral element of these strategies is Precision Pricing and Revenue Optimization (PPRO) that focuses on how a firm should exercise pricing and product availability decisions across its various selling channels in order to maximize its profitability. The ultimate goal is to identify and exploit opportunities for PPRO in different business contexts. Within the broader area of pricing theory, the session examines tactical optimization of pricing and capacity allocation decisions, tackled using quantitative models of consumer behavior.
The course explores the importance of considering the full spectrum of customer behaviors as a core of a customer-centric business model and how these behaviors affect the optimal pricing, product offering and promotion decisions. General strategies for business-to-business and business-to-consumer customer analytics are studied, and examples from a variety of enterprises are compared and contrasted. An integral element of these strategies is Precision Pricing and Revenue Optimization (PPRO) that focuses on how a firm should exercise pricing and product availability decisions across its various selling channels in order to maximize its profitability. The ultimate goal is to identify and exploit opportunities for PPRO in different business contexts. Within the broader area of pricing theory, the session examines tactical optimization of pricing and capacity allocation decisions, tackled using quantitative models of consumer behavior.
