Setting the right price for a product or service is essential for businesses. If a business charge too low for their services, they would lose revenue potential. If they charge too high, on the other hand, they could end up losing customers.
There are various strategies to determine the price of a product or service. One of the critical elements to determine the best pricing is by understanding the price elasticity of demand (EpD). EpD is a measure of how sensitive the quantity demanded of it is to its price. For some products, demands can decline sharply with a slight price increase, and for other products, they can remain almost the same, although with significant price increases.
This 3-day online workshop is a beginner-friendly price optimization modeling with R. We will identify the optimal prices for products based on the price elasticity of the items. Throughout the online course, we will provide participants with hands-on examples and a rich interactive experience. One Instructor and two Teaching Assistants will help participants troubleshoot or help with any difficulties encountered.
NOTE: This workshop will be delivered in Bahasa Indonesia.