Price Optimization

Price Optimization solutions (per Bain & Company) are software solutions that use "mathematical algorithms to calculate how demand varies at different price levels, then combine that data with information on costs and inventory levels to recommend prices that will improve profits." These solutions can be used for initial product pricing, promotional pricing, and markdown pricing (among other applications). Is your company using a price optimization solution? How would you characterize your company's current approach to pricing . . .

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