Machine learning and artificial intelligence have become very popular topics in the pricing community. However, many perceive these tools as overly complex and not practical to implement quickly into their existing processes. In this article, the author presents a machine learning technique called regression analysis and demonstrates simple applications that can be readily employed by pricers in any industry.
As companies move closer and closer to commercializing their digital offer, they run the risk of undervaluing the technology. To mitigate this risk, it’s important to develop a value-based pricing strategy and to consider this strategy from the onset of the advanced solution, rather than as an afterthought. In this article, the author presents strategies to help your organization determine a fair economic value for your advanced solution.
Regardless of industry, companies need to better understand and more confidently embrace the ways in which subscription- and consumption-based models will change their business, the new strategies that will apply, and the new practices they will need to establish, as the authors explain.
How can digital pricing tools support pricing in B2B sales? In the following interview, Dr. Kajetan Zwirglmaier, Partner at Simon-Kucher & Partners, explains. He also highlights the role machine learning and artificial intelligence play in this context.
Netflix prices are going up. This week, the streaming service raised the prices of all three of its US plans, constituting a jump of between 13 and 18 percent – the biggest price hike since Netflix launched in 2007. Mark Billige, pricing specialist and Managing Partner at Simon-Kucher & Partners, explains how Netflix’s smart approach is key to gaining customer acceptance.