How are data-driven pricing strategies adopted by the companies of today and how do these strategies overcome the limitations of traditional pricing strategies?

Registration ID: IJNRD_223079

Published ID: IJNRD2406186

DOI: Click Here to Get

Aadyant Baswani

Price is a vital component for all businesses selling goods and services as it has an impact on consumer purchasing behaviour. That being said, pricing decisions are intricate since they are influenced by multiple factors such as supply and demand, cost structures, consumer behaviour, competitive analysis, distribution channels, etc. The majority of the traditional pricing strategies have proven to be effective but may be limited in their ability to only consider a limited few factors. In light of the same, data-driven strategies have gained a great level of importance for their ability to account for most, if not all, of the price influencing factors in real-time and provide more efficient pricing decisions for companies worldwide. This research paper sets out to explore the aforementioned further in the context of global companies such as Uber and Amazon.

Published Paper   E-Certificate

Aadyant Baswani (June-2024). How are data-driven pricing strategies adopted by the companies of today and how do these strategies overcome the limitations of traditional pricing strategies?. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(6), b869-b879. https://ijnrd.org/papers/IJNRD2406186.pdf

Volume 9 Issue 6, June-2024

Pages : b869-b879

Paper Reg. ID: IJNRD_223079

Published Paper Id: IJNRD2406186

Downloads: 000121979

Research Area: Commerce

Country: New Delhi , Delhi, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2406186.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2406186

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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