In this talk, we discuss the concepts behind measuring customer's willingness-to-pay and the current state of the research. A new Willingness-to-Pay model will be explored that is based on how negotiations occur and in the importance of price. We'll also introduce PROS, Inc - a fast growing Houston based software company that delivers pricing, revenue management and sales effectiveness solutions to the manufacturing, distribution, services and travel industries.
Neil Biehn, Ph.D., is Vice President of the Science and Research group at PROS, Inc., where for the past 13 years he has researched pricing, revenue and profit optimization, and the underlying data science. During his tenure, Dr. Biehn has designed pricing algorithms, estimation techniques and optimization models for companies in the manufacturing, distribution, services, travel and transportation industries. He is a published author in a variety of formats including patents, scientific journals and white papers. Dr. Biehn is also a contributor to the recently published book titled "Innovation in Pricing: Contemporary Theories and Best Practices."