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Airlines long ago developed sophisticated software

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Unformatted text preview: in digitally driven pricing strategies can be seen in the surge in new price analysis software companies—with names like Zilliant, KhiMetrics Inc. and ProfitLogic —that promise to help companies reap more profits through pricing. Membership in Mitchell's organization has been growing 25 percent annually and now counts 1,000 members from 400 companies—including pricing executives from such companies as Dell Computer Corp. and Capital One. Indeed, strategic pricing is built on good information and good information systems. "Wal -Mart set out to build a computer, not a store," says Glazer. "Kmart's demise is really a reflection of Wal-Mart having better information and using it to be smarter about pricing." That's why pricing now demands the CIO's attention. Because pricing systems must be integrated with traditional ERP systems and supply chain software, "you want to get the CIO involved," says Mitchell. Leaving Money on the Table Pricing as a strategy is not new, of course. Airlines and hotels began perfecting the art of yield management three decades ago. The goal: to fill as many seats and rooms as possible while charging the highest prices the...
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