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Informative Article | Engineering Science | India | Volume 7 Issue 6, June 2018 | Rating: 4.5 / 10
Evaluating the Efficacy of Targeted Pricing Strategies in the Retail Sector: A Comprehensive Case Study
Arun Chandramouli
Abstract: This research paper investigates the impact of targeted pricing strategies within the retail sector, focusing on a case study of a retail grocery chain. It explores the challenges of measuring promotional effectiveness and the complexities involved in assessing the impact of pricing strategies on sales, customer behaviour, and overall revenue. The study introduces a novel framework for evaluating pricing strategy effectiveness, integrating factors such as promotional elasticity, price thresholds, and substitution effects. The findings offer insights into the potential benefits and drawbacks of targeted pricing initiatives, contributing valuable knowledge to the field of retail marketing and management.
Keywords: retail pricing strategies, targeted pricing, dynamic pricing, promotional elasticity, price thresholds, consumer behaviour, pricing effectiveness, retail marketing, sales volume, profit margin, demand forecasting, price sensitivity, promotional campaigns, pricing analytics, machine learning in pricing, customer satisfaction, market share analysis, pricing optimization, competitive pricing, sales promotion effects, retail management, substitution effects, pricing models, algorithmic pricing, strategic pricing decisions
Edition: Volume 7 Issue 6, June 2018
Pages: 1949 - 1957