Pricing Analytics. 3 credits

Catalog description

Firms need to find answers for various questions that arise in the context of pricing such as: Which sales channels should the firm use? How should a product be priced in different channels? How can the firm prevent cannibalization across channels? How should prices be adjusted throughout the season or after observing the initial demand? Pricing analytics and revenue management is concerned with having the right prices in place for all the products a firm sells, to all its customers, through all their channels, all the time and is a tactical decision. The most familiar example probably comes from the airline industry, where tickets for the same flight may be sold at many different fares throughout the booking horizon depending on product restrictions as well as the remaining time until departure and the number of unsold seats. Offered by Costello College of Business . May not be repeated for credit.