Marketing teams often face the challenge of designing an effective promotion policy to maximize return-on-investment without exceeding the allocated budget. Firms often fall short of designing effective promotion programs due to the inherent complexity of understanding their customers’ willingness-to-pay a price. This work presents a framework to design an effective promotions program considering customer willingness-to-pay using optimization. A case study is presented to demonstrate the approach and its effectiveness.
Request the Presentation
4 Methods to Boost Your F&B Operation's Profits Using Advanced Analytics
Using Analytics to Create Profitable Promotions
Setting Prices in Context
Is Your Pricing In Your Long Term Interest?