With rapidly changing markets and emerging technologies, setting the right price is harder than ever. But pricing strategy consultant Rafi Mohammed tells HBR IdeaCast host Sarah Green Carmichael that it’s possible to make better decisions about pricing if you understand how pricing and demand interact in your business and you have good market research to guide you.
“The front line really has a lot of intuition on what customers are willing to pay. [They have] a lot of market research that they can share with the people who set prices to help set the right price,” he explains.
Key topics include: pricing strategy, dynamic pricing, market research, supply and demand, innovation, media, entertainment, professional sports, and the travel and tourism industry.
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