While my last dynamic pricing blog dealt with industry-specific features of dynamic price optimization in the fashion industry, today we’ll look at consumer electronics. The consumer electronics industry is one of the most challenging…
https://prudsys.de/wp-content/uploads/consumer-electronics3.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-09-24 11:58:462020-09-24 14:16:485 Ways Dynamic Pricing Can Help the Consumer Electronics Industry Succeed
In my last blog spot on coupons and bundles, we touched on industry-specific differences that can be crucial to a retailer’s success in the context of Dynamic Pricing. I would like to go into this more detailed and show you which industry-specific…
When it comes to dynamic price optimization, the three crucial KPIs are sales, profit and purchase frequency. In pricing theory, it is said that in principle, any two of this KPIs can be raised together, but never all three. If you look at a…
At first glance, Dynamic Pricing Systems and Recommendation Engines may not have too much in common. Dynamic Pricing is meant for targeted price optimization so a retailer can sustainably grow revenue and profit. Recommendation Engines, on the…
https://prudsys.de/wp-content/uploads/reco-vs-pricing-2.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-06-15 11:17:002020-06-15 12:18:40What Do Dynamic Pricing Systems and Recommendation Engines Have in Common?
I can report from the experience of many projects: Markdown Optimization is one of the topics that retailers are particularly concerned about - across all branches. Because markdowns and especially write-downs cost gross profit. Therefore, it…
https://prudsys.de/wp-content/uploads/markdown-pricing-2.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-05-28 10:37:232020-06-04 09:56:32Intelligent Markdown Pricing - now the watering can has finally worn out
One of the reasons why retailers increasingly rely on AI-based Dynamic Pricing is the huge amount of data and influencing factors that need to be considered for price determination: Article master data, purchase prices, sales quotas, inventory…
https://prudsys.de/wp-content/uploads/pricing-rezept.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-04-27 11:17:132020-06-03 14:15:32What you need to optimize your prices using an AI - Recipe idea & ingredients
In my recent posts I have shown which insights you can gain with the help of price elasticity and how this helps you to better understand your entire product range and to price it accordingly. The splitting of your product portfolio into article…
https://prudsys.de/wp-content/uploads/basisartikel.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-04-16 09:08:342020-06-03 15:38:56Using Dynamic Pricing successfully - a holistic strategy will make the difference
In my last blog post I introduced the mathematical concept of price elasticity and the benefits it brings to AI-driven price optimization. As promised, in my post today I explain how you can use price elasticity to create a strategic basis for…
https://prudsys.de/wp-content/uploads/produktrollen.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-04-08 09:02:332020-06-04 15:06:13The all-rounder price elasticity and its role in strategic assortment analysis
In my blog post today, I would like to present THE all-rounder for dynamic price optimization: The Price elasticity. Mathematically as well as strategically, it is capable of great things! I am convinced that there is no other approach that…
https://prudsys.de/wp-content/uploads/preiselastizität3.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-04-01 12:34:262020-06-04 16:05:18Price elasticity - THE all-rounder for AI-controlled price optimization
You know what my first point of contact with AI was? It was in 1991, when I was 7 years old and completely enthusiastic about K.I.T.T. – not (only) about the car, butespecially about the concept of an "intelligent" companion, who is always…
https://prudsys.de/wp-content/uploads/kitt.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-03-26 10:28:552020-06-05 11:29:41Reinforcement Learning – What Distinguishes a Real AI from The Wannabes
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