Virtual Market Surrogates
From Predicting Market Response to Testing Commercial Decisions Why pricing and promotion intelligence may need to move beyond simply predicting what happens next. Prediction only gets us so farMost pricing technology is trying to answer a perfectly reasonable question: What is likely to happen?If we change the price, how will demand respond? If we run a promotion, what lift might we get? What is the likely revenue or margin impact? All useful questions. But when you are actually making the...