The Practice of Pricing Analytics
In chapter 1 we provided a brief summary of the theory of pricing analytics. While informative, this discussion has not provided you or your organization with advice on important questions such as “Am I ready to start experimenting with pricing analytics? If so, how can I operationalize some of these theoretical concepts?” or “When should I declare myself satisfied with the progress I made?” To help gain an understanding of what these and other similar questions require of an organization, we open this chapter with a few statements on what developing organizational pricing capabilities entails. We then provide a few practical examples of how to estimate the price elasticity of demand. Since, in practice, ...
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