Sector: Technology
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Nature Human Behaviour
In: Fairness Technology
Do our perceptions of fairness change if we are transacting with a machine vs. a human? This question is an inversion of the Turing test, which discerns whether human and machine behavior are indistinguishable. A research team found that when exposed to identical offers to share a fixed amount of money (known as the ultimatum…
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Can different pricing models address obesity problem?
In: Value Game Technology
Honored to be featured in a recent piece by AJMC, discussing innovative pricing models to tackle America’s obesity crisis. The article explores the potential of outcome-based and models to make obesity management solutions more accessible and effective. By aligning costs with patient outcomes, we can encourage investment in long-term health benefits and drive down health…
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Women’s day is about inclusion
This upcoming International Women’s Day is about inspiring inclusion, and GenAI adoption holds tremendous opportunity. A new global BCG study featuring 6,500 tech professionals reveals senior women in technical functions are leading the way in GenAI adoption; they are 14 percentage points more likely to embrace the technology than their male counterparts. But despite this…
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Ogilvy’s latest partnership tests how far strategists can trust an AI focus group
In: Fairness Technology
Are we defined solely by what we look at online? Ogilvy and CivicSync are defining user archetypes based on real-time data by tracking browsing habits in a way that is agnostic to background and identity. This could mean that an AI composite of a type of user is a more reliable narrator than a human,…
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GenAI Needs Pricing Strategies to Match Its Potential
In: Technology
Imaginative use cases, rapid technological progress, and boardroom drama have dominated the headlines about generative artificial intelligence (GenAI) since the launch of ChatGPT in November 2022. Largely absent from these conversations, however, is a discussion about how software companies and GenAI application developers should set the right pricing strategy and pricing models, two critical elements that determine the long-term…
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Harnessing the power of GenAI
In: Gen AI Technology
Have you made AI a strategic priority yet? Just because is automating customer service, supply chain operations, and everything in between – that doesn’t mean it can be implemented on autopilot too. Two-thirds of leaders are ambivalent or dissatisfied with their business’ AI and Gen AI progress, but employees need to be set up for…
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Solving the Pricing Puzzle in Inflationary Times
In: Technology
Inflation has dominated the business and financial headlines since early 2022, as consumers and businesses have coped with the uncertainty of high prices and high interest rates. We spoke with BCG’s Jean-Manuel Izaret , coauthor of the recently published book Game Changer: How Strategic Pricing Shapes Businesses, Markets, and Society , about how companies should approach pricing in a…
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Smarter Retailer Promotions for a Saturated Market
In: Technology
Why are so many retail promotions wasteful? Many retailers are asking themselves that question, and with good reason. From 30% to 40% of retail promotions not only are either inefficient or unprofitable, but also risk alienating consumers by overwhelming them with choices that make shopping harder. These inefficiencies have two primary causes: Attempting to reduce promotional intensity,…
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Resilient Pricing for an Uncertain World
In: Technology
Many B2B businesses have reacted to persistent high inflation by raising prices, adjusting their packaging and portfolios, improving analytics, and accelerating their decision-making with tighter pricing governance . But in 2023, uncertainty around demand patterns and cost trends will test the limits of such reactive pricing moves. As price increases face customer resistance and reach their practical…
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The Unified Theory of Pricing
In: Technology
In today’s volatile and complex markets, strategic pricing has emerged as a critical discipline that blends economics, customer insight, and market dynamics. This blog introduces a unified theory of pricing that brings structure to that complexity. Pricing is a complicated and often frustrating challenge for business leaders because they have so many theories, concepts, frameworks,…
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Understanding the Global Price-Sensitive Consumer
In: Technology
One might assume that the world is awash in frugal buyers. Why wouldn’t it be? With most of the global economy struggling to recover from the COVID-19 crisis, one would expect households to be tightening their budgets. Indeed, in the major markets we have studied, in rich and poor nations alike, anywhere from 70% to…
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Solving the Paradox of Fair Prices
In: Technology
Charging different prices is often fairer than charging everyone the same price. Companies should take steps to educate customers and win their support for this approach. For most people, a fair price is a price others pay for a good or service. At the same time, most people also consider giving a lower price to…