This is a comprehensive introduction to the concepts, theories and applications of pricing and revenue optimisation. From the initial success of “yield management” in the commercial airline industry down to more recent successes of markdown management and dynamic pricing, the application of mathematical analysis to optimise pricing has become increasingly important across many industries.
The course will emphasize the dynamic nature of pricing problems, the critical role of price differentiation and supply constraints, and the techniques that can be used to calculate and update optimal prices.
Key Topics Include:
Basics of Price and Revenue
The Economics of Price Differentiation
Pricing With Constrained Supply
List Pricing
Customized Pricing
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Calculating Optimal Customized Prices
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Estimation Of Price-Response Functions
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Customized Pricing in action
Presenter:
Robert Phillips
Founder and Chief Technology Officer, Nomis Solutions
Dr. Robert Phillips is Founder and Chief Technology Officer of Nomis Solutions, a venture-capital backed company providing pricing and revenue optimisation solutions to the financial services industry.
Dr. Phillips is a recognized expert in pricing and revenue optimisation. He was the chief architect of the Talus Solutions pricing and revenue optimisation software suite. He pioneered the introduction of pricing and revenue optimisation in many different industries including rental cars, automotive, hotels, freight transportation, and financial services.
He has taught courses on pricing and revenue optimisation at the Columbia Business School, Stanford Business School and at INSEAD in France. He is author of the book, Pricing and Revenue Optimisation.
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