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Wharton-SMU Research Centre
Guest Speaker:
Professor Raghuram Iyengar
Assistant Professor of Marketing
The Wharton School, University of Pennsylvania
Date & Venue:
Date: 14 Aug 2008, Thursday
Time: 3.00pm - 4.30pm
Venue: Seminar Room 1.2, Level 1
Lee Kong Chian School of Business, Singapore Management University
50 Stamford Road, Singapore 178899
( Location Map )
Topic:
A Conjoint Approach to Multi Part Pricing
Abstract:
Multi-part pricing is commonly used by providers of such services as car rentals, prescription drug plans, HMOs and wireless telephony. The general structure of these pricing schemes is a fixed access fee, which sometimes entitles users to a certain level of product use; a variable fee for additional use; and still another fee for add-on features that are priced individually and/or as bundles.
In this seminar, the speaker will discuss on a method using conjoint analysis for multi-part pricing. The method reflects the two-way dependence between prices and consumption, and incorporates the uncertainty consumers have about their use of a service. The proposed method estimates both choice probabilities and usage levels for each individual as functions of the product features and the different price components. These estimates are then used to evaluate the expected revenues and profits of alternative plans and pricing schemes. The method is illustrated using data from a conjoint study concerning cellular phone services. Its results are compared with those obtained from using several competing models. The proposed procedure is used to identify the optimal set of features in a base plan, and the pricing of optional features, for a provider of cellular phone services.
Registration:
Seats are limited and on first come first served basis.
Click here to register.
Registration closes on Tuesday, Aug 12, 2008.
Enquiries:
Ms. Dione Ng
Email: dioneng@smu.edu.sg , Tel: 6828-0803
Ms. Rozana Bte Osman
Email: rozanaosman@smu.edu.sg , Tel: 6828-0802
Ms. Lim Lih Yeng
Email: lylim@smu.edu.sg , Tel: 6828-0197
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