What Does it mean to be A Data Driven Pricing Strategy Organization?  

WORKING TITLE: What Does it mean to be A Data Driven Pricing Strategy Organization?

 

 

 

 

1. Research Area | Research Context | Challenge/Problem Statement| Objective (Note the citation rules!)

 

Today’s dynamic business environment demands that organizations adapt flexible, fast-changing pricing strategies. Companies must be fast enough to react to changes in the market demand and competitor activities. This requires a data driven organization that can analyze market trends and regularly monitor competitor pricing strategies.

 

When it comes to selling your product, the company has the opportunity to strategically set a price for its product. There is an option to determine which pricing method is best for the company but keeping in mind that there is no one-size-fits-all solution. In fact, many businesses are continuously juggling these decisions to stay competitive. The key is figuring out which option delivers the best return on investment while aligning with the company’s business goals and strategic objectives.

 

The goal of my research is to outline the benefits of becoming a data driven pricing strategy organization.

 

I would like to explore the field by outlining what could be the future of strategic pricing.

My research has the main following objectives:

 

  • Outline the benefits of becoming a data driven pricing strategy organization
  • Explore the challenges and limitation
  • How to get there: The path to becoming data driven pricing strategy organization

 

2. RESEARCH QUESTION(S)

            – General (1 research question)

            – Specific (max. 2-3 questions)

 

General question: What Does it mean to be A Data Driven Pricing Strategy Organization?

  • Specific questions:
    1. Why Data-Driven Organization is the Future of Pricing?
    2. Does Data-driven organizations foster internal collaboration (E.g., product development, SCM, sales management and etc.)?

 

3. RESEARCH METHOD | RESEARCH DESIGN

 

I will use the simplified model of research. I plan to answer the question based on literature and in case of limitation I might use empirical research (Interview with experts).

 

I have started the collection of data which is relevant to answer the questions of my research.

I am starting by collecting material from various articles and books. From this material I want to broader my understanding regarding problems, possible solution, use cases and further potentials. On top of external research, I will apply the knowledge I have acquired during the marketing module as well as from my new position.

 

Afterwards, I will start collecting material with further research in the field to build up the context of limitation and propose possible solution to it.

 

4. PRELIMINARY TABLE OF CONTENTS (structure of master’s thesis)

 

Introduction

Study Contribution

1.1Goal

1.2Research limitation (what will not be part of my research)

1.3Structure of my thesis

1.4 Literature review

  1. Overview of Pricing Strategy and Pricing model
  2. How companies are handling pricing – use cases
  3. Data driven organization

4.1 Data management

4.2 Pricing process flow and decision making

4.3 Benefits

  1. Future of Pricing
  2. Leveraging Internal Collaboration
  3. Conclusion and Recommendation
5. PRELIMINARY BIBLIOGRAPHY (10-15 sources to start with)

 

  • Bora Keskin, Yuexing Li, Jing-Sheng Song.2022. Data-Driven Dynamic Pricing and Ordering with Perishable Inventory in a Changing Environment.
  • Albaum, Gerald. 1967. Exploring interaction in a marketing situation. Journal of Marketing Research.
  • Ancarani, Fabio, Venkatesh Shankar. 2004. Price levels and price dispersion within and across multiple retailer types: Further evidence and extension. Journal of the Academy of Marketing Science
  • Anderson, James C., Dipak C. Jain, Pradeep K. Chintagunta. 1993. Understanding customer value in business markets: Methods of customer value assessment. Journal of Business-to-Business Marketing
  • Gebundene Ausgabe. Dezember 2018.Price Management: Strategy, Analysis, Decision, and Implementation.