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Profiting from the Data Economy: Understanding the Roles of Consumers, Innovators and Regulators in a Data-Driven World
book

Profiting from the Data Economy: Understanding the Roles of Consumers, Innovators and Regulators in a Data-Driven World

by David A. Schweidel
October 2014
Beginner to intermediate content levelBeginner to intermediate
288 pages
6h 54m
English
Pearson
Content preview from Profiting from the Data Economy: Understanding the Roles of Consumers, Innovators and Regulators in a Data-Driven World

7. Harbingers of Change

Data have the potential to affect the way in which marketing decisions are made. As we’ve discussed in previous chapters, the efficacy of promotional activities can be increased by using data that customers have previously provided. This could provide firms with the capability to be more precise in terms of the message they use to appeal to consumers or in terms of timing their promotions to get the most value out of them. In addition to using consumer-generated data to guide promotional efforts, firms can use previously provided data to inform their pricing decisions.

Demand-Based Pricing

Broadly speaking, a number of tactics fall under the umbrella of demand-based pricing. They all rest on a basic idea: Demand is not ...

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Publisher Resources

ISBN: 9780133819854Purchase book