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Combining Data Sources and Capitalizing on Collaborations With Industry Partners to Investigate the Appropriateness of “Pay What You Want” for Heterogeneous Customer Groups

Kastner, M, Stangl, Brigitte and Schmidinger, G (2018) Combining Data Sources and Capitalizing on Collaborations With Industry Partners to Investigate the Appropriateness of “Pay What You Want” for Heterogeneous Customer Groups In: SAGE Research Methods Cases Business & Management. Research Methods Cases . Sage.

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Abstract

Research on pricing is one of many topics for which research quality and insights improve substantially if one combines primary with secondary data. In this research, the combination of different data sources allows for comparisons with traditionally set prices and customer profiles. Besides possibilities and challenges of combining data sources, this case study presents challenges of primary data collection especially focusing on questionnaire design. Furthermore, we will share experiences of engaging with an industry partner throughout the introduced project on an innovative pricing approach called “Pay What You Want” which may not only affect the timing but potentially the research design and the entire outcome. One advantage of working with an industry partner is to get access to a customer database who actually has experience and/or understands the service examined which is a critical prerequisite for collecting reliable prices and pricing information. Only data provided by knowledgeable customers are valid information sources and can be trusted as a basis to reveal customer segments subject to price discrimination and for recommendations with regard to setting prices. Dividing customers into groups, so called segments, and setting the price for each segment accordingly is essential. It avoids suggesting one overall price which is a blur and ends up not to meet the needs of any segment. Segment-based pricing leads to a win-win situation for customers and the seller, as less customers get excluded from consuming the services (more customers will be able to afford the target price set) and the seller will be able to sell more.

Item Type: Book Section
Divisions : Faculty of Arts and Social Sciences > School of Hospitality and Tourism Management
Authors :
NameEmailORCID
Kastner, M
Stangl, Brigitteb.stangl@surrey.ac.uk
Schmidinger, G
Date : 2018
Copyright Disclaimer : Copyright 2018 SAGE Publications
Depositing User : Melanie Hughes
Date Deposited : 13 Jun 2018 07:30
Last Modified : 16 Jan 2019 19:11
URI: http://epubs.surrey.ac.uk/id/eprint/847043

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