Archives tagged: dynamic pricing
The pricing software revolution is in full swing so who needs people anymore? Tim J. Smith, PhD takes on the thorny question of the information revolution impacting entry level and mid-tier pricing jobs and actually finds good news.
More $700 is the price a couple would pay for the best seats to see Hugh Jackman Back on Broadway this month. With a runaway hit, producers have raised prices several times. Orchestra seats that were priced at $155 are now priced at $175. Premium seats that were priced at $250 are now priced in the range of $275 to $350, depending upon demand for specific performances. Their decision to use dynamic pricing has placed Hugh Jackman’s essentially one-man-show in the top earner position on Broadway with roughly $1.5 million in ticket sales for the week ending November 20th, 2011.
With pricing success like this, one can suspect that more executives may benefit from considering the value of dynamic pricing.
More How are prices set at the industry level? In a competitive market, Adam Smith’s invisible hand drives prices to a dynamic equilibrium…
More The wireless telecommunications revolution continues at a fast clip in areas that many of us never notice. We rarely think of the…
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