Price Optimization Quotes

You can’t pass enough laws to stop customers from seeking and expecting value.

Netbot was the first comparison shopping company. We realized comparison shopping can be quite tedious if you are driving from one furniture store to another. On the Internet, you can automatically look at a bunch of different stores and see where can you get the best price on a computer or some such thing, so that was the motivation.

When you build relationships with entrepreneurs, they're not trying to optimize on price.

In industries where a lot of competitors are selling the same product - mangoes, gasoline, DVD players - price is the easiest way to distinguish yourself. The hope is that if you cut prices enough you can increase your market share, and even your profits. But this works only if your competitors won't, or can't, follow suit.

We're more familiar with what economists call an English auction - prices start low and rise as people bid. However, there is also the Dutch auction, where prices start high and go lower until somebody bites. Movies are sold to the audience via a very slow Dutch auction, where each phase between price drops can last weeks or months.

We are headed toward 'perfect capitalism,' when the laws of supply and demand become exact, because everyone knows everything about a product, service or customer. We will know precisely where the supply curve meets the demand curve, which will make the marketplace vastly more efficient.

It isn't as important to buy as cheap as possible as it is to buy at the right time.

First, we have to lower our costs to levels that are more competitive. This will prevent the lower-cost airlines from pushing us out of the markets we want to serve. We've made great progress on this front, but we need to keep pushing.

Then why flounder around waiting for good business? Get the costs down by better management. Get the prices down to the buying power.

I think that a lot of companies are still amazingly price sensitive.

You don't want to negotiate the price of simple things you buy every day.

TSG is competing with Middle East, East Asia and Europe in offering prices that are either lower or at par with these markets.

If you're not worried that you're pricing it too cheap, you're not pricing it cheap enough.

Cutting prices or putting things on sale is not sustainable business strategy. The other side of it is that you can't cut enough costs to save your way to prosperity.

As much as I'd love to give everybody a really cheap option, it's just simply not possible in certain sorts of extreme events... I guarantee that our strategy on surge pricing is the optimal way to get as many people home as possible.

The way we have looked at pricing at Merck is we've always said we want to be responsible, which means we want to optimize profitability and patient access.

Low price is a great way to sell a commodity. That's not marketing though, that's efficiency.

If somebody can offer value at a cheaper price, they should. But that also means Uber should, too.

When you raise prices, you've got to make sure you get it to the bottom line. You can fritter it away because of the way you're running the business, with maybe not a totally disciplined approach.

Wireless technology is creating entrepreneurship on a small scale that allows a single woman to set up a business in a small village or a single farmer or fisherman to access and disseminate market information in order to get the best price for their products.

The intriguing aspect of food charges on airlines is that they create the perfect laboratory for any economist who wishes to study the question of how to price a good that possesses, by universal consensus, absolutely no objective value.

We have never considered any costs as fixed. Therefore we first reduce the price to a point where we believe more sales will result. Then we go ahead and try to make the price. We do not bother about the costs. The new price forces the cost down.

When you can sell [empty seats] at the gate for an upgrade for 500 bucks or 600 bucks... it makes all the sense in the world.

Businesses are going to innovate in how they bring prices down so people can shop the way they want.

Surge pricing only kicks in in order to maximize the number of trips that happen and therefore reduce the number of people that are stranded.