Pricing and Social Network Theory
Dynamic Pricing in retail stores
The next step for dynamic pricing is to interact with the brick-and-mortar environment. At the retail space, dynamic pricing can be made possible by an omnichannel communication and the integration of positive customer recognition at the point of sale, with lean pricing algorithms based on context.
These algorithms are subsets of a more complex consumer analysis.
There is evidence in research of the impact of social networks on the perception of prices. As such, my research seeks to reconcile diverse strands of literature around the topic of social network theory, small groups, and consumer pricing. Furthermore, I am conducting experimental designs that test for the relationship between consumers' responses to prices and the web of relationships, in where they are connected.
As result of an early work on a systematic review on the formation and measurement of consumer price perception, I have got very engaged in the study of how psychology of prices influence purchase decision.
Currently, I am writing on how the understanding of psychology of prices can help the pricing of new products and services (pricing innovation).
I have been researching in consumer pricing (premium pricing, contextual pricing and price perception) since 2009 at Cranfield University. I did develop a framework on the formation of consumer price perception that was published at the ANZMAC conference in 2012. Ever since. I have developed more research in the study of consumer price perception using repertory grids (multi-cultural pricing), eye-tracking (price perception) and virtual stores (reference prices). I am still working in contributing to a dynamic retail experience with the support of contextual pricing.
Psychology of Prices
I am focused in researching in the topic of pricing. My early experience in sales forecasting and revenue optimization led me to work with more elaborated models, including dynamic pricing. Currently, I am researching the formation and measurement of consumer pricing, using technologies such as online conjoint, repertory grids, eye-tracking and virtual stores.