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Exploring Price Elasticity to Optimize Posted Prices in e-Commerce

Publikation: Beiträge in Sammelwerken › Aufsätze in Konferenzbänden › Forschung › begutachtet

Standard

Exploring Price Elasticity to Optimize Posted Prices in e-Commerce. / Funk, Burkhardt.
e-Business and Telecommunications. Hrsg. / Mohammad S. Obaidat; Joaquim Filipe. Berlin, Heidelberg: Springer Verlag, 2011. S. 71-81 (Communications in Computer and Information Science; Band 130 CCIS).

Publikation: Beiträge in Sammelwerken › Aufsätze in Konferenzbänden › Forschung › begutachtet

Harvard

Funk, B 2011, Exploring Price Elasticity to Optimize Posted Prices in e-Commerce. in M S. Obaidat & J Filipe (Hrsg.), e-Business and Telecommunications. Communications in Computer and Information Science, Bd. 130 CCIS, Springer Verlag, Berlin, Heidelberg, S. 71-81, 6th International Joint Conference on e-Business and Telecommunications - 2009 , Milan, Italien, 07.07.09. https://doi.org/10.1007/978-3-642-20077-9_5

APA

Funk, B. (2011). Exploring Price Elasticity to Optimize Posted Prices in e-Commerce. In M. S. Obaidat, & J. Filipe (Hrsg.), e-Business and Telecommunications (S. 71-81). (Communications in Computer and Information Science; Band 130 CCIS). Springer Verlag. https://doi.org/10.1007/978-3-642-20077-9_5

Vancouver

Funk B. Exploring Price Elasticity to Optimize Posted Prices in e-Commerce. in S. Obaidat M, Filipe J, Hrsg., e-Business and Telecommunications. Berlin, Heidelberg: Springer Verlag. 2011. S. 71-81. (Communications in Computer and Information Science). doi: 10.1007/978-3-642-20077-9_5

Bibtex

@inbook{2e8ab5d7e9394486a1f87889b9f6cf39,
title = "Exploring Price Elasticity to Optimize Posted Prices in e-Commerce",
abstract = "Price dispersion in the Internet has attracted attention from practitioners and academics alike, since it enables companies to adjust prices to a level appropriate to their strategy. This paper demonstrates how Internet retailers can optimize short-term profitability by determining the price elasticity of demand based on empirical price tests. For this purpose visitors of an Internet retailer are divided into subgroups of approximately same size and identical characteristics. Using A-B tests different prices are shown to each subgroup and the conversion rate as a function of price is calculated. We describe the organizational requirements, the technical approach, and the statistical analysis applied to determine the price optimizing the per-order profit. A field study carried out with a large Internet retailer is presented and shows that the company was able to optimize the analyzed price component and thus increase the contribution margin per visitor by about 7%. We conclude that the discussed method could be applied to answer further research questions such as the temporal behavior of demand curves.",
keywords = "Informatics, Conversion rates, Demand curves, Field studies, Internet retailers, Price dispersion, Price elasticity, Price-elasticity of demand, Research questions, Temporal behavior, Price Discrimination, Contribution Margin",
author = "Burkhardt Funk",
year = "2011",
doi = "10.1007/978-3-642-20077-9_5",
language = "English",
isbn = "978-3-642-20076-2",
series = "Communications in Computer and Information Science",
publisher = "Springer Verlag",
pages = "71--81",
editor = "{S. Obaidat}, Mohammad and { Filipe}, Joaquim",
booktitle = "e-Business and Telecommunications",
address = "Germany",
note = "6th International Joint Conference on e-Business and Telecommunications - 2009 , ICETE 2009 ; Conference date: 07-07-2009 Through 10-07-2009",
url = "http://www.icete.org/ICETE2009/Keynote_Speakers.asp",

}

RIS

TY - CHAP

T1 - Exploring Price Elasticity to Optimize Posted Prices in e-Commerce

AU - Funk, Burkhardt

N1 - Conference code: 6

PY - 2011

Y1 - 2011

N2 - Price dispersion in the Internet has attracted attention from practitioners and academics alike, since it enables companies to adjust prices to a level appropriate to their strategy. This paper demonstrates how Internet retailers can optimize short-term profitability by determining the price elasticity of demand based on empirical price tests. For this purpose visitors of an Internet retailer are divided into subgroups of approximately same size and identical characteristics. Using A-B tests different prices are shown to each subgroup and the conversion rate as a function of price is calculated. We describe the organizational requirements, the technical approach, and the statistical analysis applied to determine the price optimizing the per-order profit. A field study carried out with a large Internet retailer is presented and shows that the company was able to optimize the analyzed price component and thus increase the contribution margin per visitor by about 7%. We conclude that the discussed method could be applied to answer further research questions such as the temporal behavior of demand curves.

AB - Price dispersion in the Internet has attracted attention from practitioners and academics alike, since it enables companies to adjust prices to a level appropriate to their strategy. This paper demonstrates how Internet retailers can optimize short-term profitability by determining the price elasticity of demand based on empirical price tests. For this purpose visitors of an Internet retailer are divided into subgroups of approximately same size and identical characteristics. Using A-B tests different prices are shown to each subgroup and the conversion rate as a function of price is calculated. We describe the organizational requirements, the technical approach, and the statistical analysis applied to determine the price optimizing the per-order profit. A field study carried out with a large Internet retailer is presented and shows that the company was able to optimize the analyzed price component and thus increase the contribution margin per visitor by about 7%. We conclude that the discussed method could be applied to answer further research questions such as the temporal behavior of demand curves.

KW - Informatics

KW - Conversion rates

KW - Demand curves

KW - Field studies

KW - Internet retailers

KW - Price dispersion

KW - Price elasticity

KW - Price-elasticity of demand

KW - Research questions

KW - Temporal behavior

KW - Price Discrimination

KW - Contribution Margin

UR - http://www.scopus.com/inward/record.url?scp=84872114487&partnerID=8YFLogxK

U2 - 10.1007/978-3-642-20077-9_5

DO - 10.1007/978-3-642-20077-9_5

M3 - Article in conference proceedings

SN - 978-3-642-20076-2

T3 - Communications in Computer and Information Science

SP - 71

EP - 81

BT - e-Business and Telecommunications

A2 - S. Obaidat, Mohammad

A2 - Filipe, Joaquim

PB - Springer Verlag

CY - Berlin, Heidelberg

T2 - 6th International Joint Conference on e-Business and Telecommunications - 2009

Y2 - 7 July 2009 through 10 July 2009

ER -

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