@article{6d0f3dd837e64be192d1a44341ddfcd4,
title = "Price customization using price thresholds estimated from scanner panel data",
abstract = "This study explores a customized pricing strategy based on heterogeneous price thresholds estimated from scanner panel data and shows that a customized pricing strategy could be more efficient than a flat pricing strategy. We apply a heterogeneous brand choice model with price thresholds to the price customization problem and show that heterogeneous price thresholds provide valuable information for customizing prices to individual consumers. The expected incremental profits from customized discounting as well as customized price hike are evaluated using hierarchical Bayes modeling with the Markov chain Monte Carlo method.",
author = "Nobuhiko Terui and Dahana, {Wirawan Dony}",
note = "Funding Information: This work was done when Dony was a doctoral student at Tohoku University. We thank Russell Winer, Chair of the CRM Conference at the Stern School of Business, New York University,Venky Shankar, the editor of this journal, and the anonymous reviewer for their careful readings of our manuscript.The comments from the participants at the conference also are appreciated.Terui acknowl- edges the financial support by the Japanese Ministry of Education Scientific Research Grants (C)15530137 and (C)18530152.",
year = "2006",
doi = "10.1002/dir.20067",
language = "English",
volume = "20",
pages = "58--70",
journal = "Journal of Interactive Marketing",
issn = "1094-9968",
publisher = "SAGE Publications Inc.",
number = "3-4",
}