Information based decision making in pricing

Abstract:

This paper discusses two well-known experimental procedures which can be used as a basis for demand-oriented pricing, v.z. Gabor-Granger-procedures and Brand Price Trade Off-analyses. It demonstrates our experiences with these methods, while the relative advantages and disadvantages are discussed and current problems identified. Furthermore a recently proposed Gabor-Granger model is briefly discussed which allows for the identification of complex and non-linear effects of prices on consumer demand.

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