The term “pricing optimization” has come to the forefront in recent years, promoted by technology companies seeking to communicate the key capabilities of pricing software. One of the challenges with the term, however, is that price optimization conveys different meanings depending on the consultant, vendor, or practitioner that you may be talking to on a given day.
This white paper explores the top misconceptions or myths that are often associated with pricing optimization in an attempt to help companies considering pricing software make more informed decisions. Given the complexity of pricing analysis, the reader will be rewarded with a better understanding of how to evaluate pricing optimization vendor offerings, and what one should expect from technology that promises to optimize pricing and improve profitability.
Patrick Schneidau joined PROS in 2004, and today serves as the company’s vice president of product marketing. In this role, he is directly responsible for development of the company’s go-to-market strategies and positioning for its complete portfolio of pricing and revenue management products – including manufacturing, distribution, services and travel – as well as the strategic vertical sub-markets.
Dr. Neil Biehn is Senior Director of Science and Research at PROS, a leading provider of pricing and margin optimization software products. At PROS, Dr. Biehn specializes in the research, implementation and innovation of pricing optimization in the B2B and travel and transportation industries. Dr. Biehn received his Ph.D. in operations research from North Carolina State University and lives in Houston, Texas.
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