Price Optimization and Profitability Analytics

Enjoy this replay with Prof. Chandan Jha on Price Optimization and Profitability Analytics.
There is a lot of time spent on product costing and not enough time spent on pricing and revenue management.
We discuss the following:
💵 The Razor Blade Model, a widely-used strategy where companies offer an initial product at a low cost while generating long-term revenue through the sale of high-margin complementary products or consumables.
💶 Dynamic Pricing, a flexible pricing strategy that adjusts in real-time based on various factors such as market demand, competition, and customer behavior.
💴 Revenue Optimization, focusing on how businesses can use data-driven insights to align pricing strategies with broader business objectives.