Category: Pricing

For that next escapade, you tried booking a hotel room online and just fell off that chair looking at the price quoted. Why? Because you had booked something similar a…

09/20/2015 / / Data Science

Not into watching sports that much but my daughter, that’s a completely different story especially when it comes to basketball (and why not…the best team in the whole world is…

11/29/2014 / / Data Science

The makers of commodity products usually play in a highly competitive environment otherwise defined as pure competition and the market pretty much decides the price that a commodity maker can charge…

In the preceding discussion about price elasticity of demand and iPhone 6’s pricing strategy (link), one glaring assumption we made when estimating its profit maximizing price is the fact that the marginal…