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Research should be conducted before a price point is set for a product or service. If the research is not planned and executed well (or not even done), then the price point will be incorrect, which would have serious consequences for the business. You cannot jump into a pricing study without a framework for conducting the study. Many courses focus on research techniques. But how to apply the techniques -- which ones and when -- is ignored.
This course will outline a methodological framework for quantitative pricing research.
But most importantly, you will have a framework for conducting the research.
Walter R. Paczkowski has a Ph.D. in economics from Texas A&M University concentrating in econometrics and statistics. After receiving his degree, Dr. Paczkowski worked in various quantitative positions at AT&T, such as business research and forecasting, applying advanced modeling methodologies to solve business problems. He worked for many years at AT&T Bell Labs’ Consumer Lab division where he used advanced statistical techniques such as conjoint, discrete choice, and latent class analysis to identify consumer preferences and willingness-to-pay for new telecommunications services.
Dr. Paczkowski founded Data Analytics Corp. in 2000 focusing on quantitative market research and pricing problems for industries such as banking, beverages, direct marketing, entertainment, food, insurance, jewelry, package goods, pharmaceuticals, and publications. He is currently an adjunct professor of economics at Rutgers University (teaching econometrics) and was formerly an adjunct professor of mathematics and statistics at The College of New Jersey (teaching statistics).