Technology has infiltrated every aspect of our lives and today’s consumers possess more internet-connected devices than ever before. Laptops, tablets, phones and smart watches have made our lives easier and our connections more seamless, and this includes the shopping experience.
Regardless of product or industry, pricing strategy is deservedly one of the most deliberated aspects of any business. While many businesses today search for the fabled sweet spot that will easily bolster profits, they oftentimes fall victim to the same old-fashioned pricing mistakes.
Consider the number of flights you’ve taken this year. Whether booking a last-minute business trip, or planning a family holiday, we’ve all spent time searching for the best flight price in this highly competitive and dynamic marketplace.
Are you drowning in data? Do you feel overwhelmed – or underwhelmed – by the slew of options that claim to deal with your data problems? Particularly, in the area of pricing? It's the Era of Big Data, and many retailers are finding relief in new technologies like event stream processing or Hadoop.
The second-largest line item on a company’s P&L is often trade marketing. It eats up nearly 20% of gross sales, and every year, manufacturers spend over $200 billion on trade marketing with their American partners alone.