7. Harbingers of Change
Data have the potential to affect the way in which marketing decisions are made. As we’ve discussed in previous chapters, the efficacy of promotional activities can be increased by using data that customers have previously provided. This could provide firms with the capability to be more precise in terms of the message they use to appeal to consumers or in terms of timing their promotions to get the most value out of them. In addition to using consumer-generated data to guide promotional efforts, firms can use previously provided data to inform their pricing decisions.
Demand-Based Pricing
Broadly speaking, a number of tactics fall under the umbrella of demand-based pricing. They all rest on a basic idea: Demand is not ...
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