Transcribed
Determine Price Elasticity of Demand via a Sophisticated Data Loop
INNO VATING Y O UR MO NETIZ ATIO N STRATEGY BY LEVERA GIN G PRICE E LASTIСІТҮ оF DEMA N D & SOPHISTICA TED DATA LO O PS Theory Theory in Practice Given Artificial Demand Poorly Fitted Demand Curve • Actual Weekly Sales With the Actual Price QUALIT Y QUALIT Y Q1 Q2 PRICE PRICE P1 P2 Our Approach Price Elasticity of Demand Machine Learning Classification Q² - Q' Q U ALIT Y Sample Factors Considered Q² + Q' • Seasonality Effects • Product Popularity • Inventory • Campaigns • Competitor Price P² - P P ² + Pl PRICE ROCKET SOURCE
Determine Price Elasticity of Demand via a Sophisticated Data Loop
shared by RocketSource on Oct 09
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Yes, pricing is a process. That’s why you need to lean on price elasticity (as well as other analyses) by setting up a sophisticated data loop via the StoryVesting framework and then take the temper...
ature of the market
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