Factors Affecting Your Monetization Strategy and Price

FACTOR S AF FECTIN GYOUR M ONET | Z ATION STRATE GY & PRICE Availability of Substitute Price & Quality Goods Switching Unique Value Cost Relative Need Impact of for the Perceived Substitutes End Income Product Benefit Factors Affecting Price Sensitivity Factors Affecting Price Elasticity of Demand Ease of Fairness Comparison Time Under Addiction Consideration Shared Expenditure Cost Sense of Perishability of the Inventory Urgency Product CON TIN U U M O F ELAS TICITY INELAS TIC ELAS TIc Highly Inelastic Inelastic Elastic Highly Elastic Your allergy medication just doubled in price, but this year your symptoms are really bad. You buy even more medicine than before. Gas has gone up by $.30 a gallon, but you must drive to work. So you buy just as much gas as before. The price of a smoothie went from $3 to $4. You opt for a $2 bottle of juice instead. The price of your magazine subscription went up. You decide to end your subscription altogether. тнE ТМ РОRTANCE ОF А DATA D RIVEN PRICIN G PROCESS Experimental Design Data Collection & Segmentation Analysis & Decision Quantified Buyer Persona Basic Statistical Model $$ $$$ Pricing Strategy ( 金 ) ROCKET SOURCE Source: McNeil, Brandon, "Price Prediction in the Sharing Economy: A Case Study with Airbnb data" (2020). %24 %24 %24