Abstract:

Are you curious about how the economic crisis has influenced reactions to promotions? Do you wonder whether pricing is more important for shampoos or for diapers? Would you like to know how changing the size of a can of crisps works in relation to changing its price or how to better answer your clients' questions by leveraging the power of a database? This paper will present extensive data on price sensitivity (and assess the wisdom of the crowd by surveying our audience's beliefs about pricing in real time). The authors will show how we have managed to connect the dots across different pricing studies and generate deep insight into consumer behavior towards pricing. They will also highlight commonly made assumptions about pricing and dispel them as myths - or confirm them as truths!