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Data science industry is a multidisciplinary field that deals with a large amount of data and derives useful information for taking routine and strategic business decisions. The purpose of this article is to examine the relationship between pricing models, engagement models, and firm performance (FP). This study also aims at uncovering the most effective pricing model and engagement model for improving FP.

Indian data scientists were the respondents of the study. A total of 213 responses were carefully chosen. The data were analyzed using structural equations on Statistical Package for Social Sciences-Analysis of Moment Structures (SPSS-AMOS) version 25 software.

The findings of the study suggested the positive and significant impact of pricing models and engagement models on FP. Value-based pricing strategies have the maximum impact on FP. On the other hand, managed services have a higher influence on FP.

By developing a multi-faceted framework, this study is a novel contribution to the field of business strategy, especially for the data science industry.

Digitalization and marketing technologies have made it possible to overcome some barriers to pricing – a multidisciplinary field between marketing, finance and IT – and have set the stage for a paradigm shift in the pricing profession. Value creation, the pricing process, and price communication have been transformed by innovative business models and advanced algorithmic and human–machine solutions. This chapter synthesizes the literature to date and provides a comprehensive framework for an all-encompassing 360° pricing approach that broadens the understanding of pricing in the context of digital business across all steps of the price management process. Starting from product attributes and motivational beliefs in consumers' value assessment and adoption of (technological or digital) products or services, new business models and pricing models emerge in the digital economy, human–machine solutions for price implementation and repricing are increasingly applied, and price search and communication take place through a variety of digital communication channels. Each stage of this framework discusses concrete examples, highlighting the freemium strategy, the subscription model, price tracking and repricing tools, and digital price information channels such as e-commerce, marketplace, or price comparison platforms. The implications for price management in a digital, technology-driven landscape are discussed from the executive level to the analyst level.

The purpose of this paper is to provide a theoretically rigorous and practically relevant summary of research findings that enables managers to drive sustainable profits improvements via pricing. It showcases multiple case studies that demonstrate how companies can achieve higher-than-average profitability by implementing intelligent pricing strategies and tactics.

Over the past 20 years, this writer has conducted dozens of academic surveys with managers exploring the antecedents, moderators and consequences of pricing practices for existing and new products. The writer has analyzed all pricing research published in leading academic journals over the past decades. Finally, as equity partner of Hinterhuber & Partners, a pricing consultancy (www.hinterhuber.com), this writer – through collaborations with companies and workshops conducted with practicing managers – has collected data and insights on best practices in managing pricing as a strategic activity.

Pricing is the most powerful driver of superior profits, yet managers view pricing as relevant only in the context of innovation. This narrow view prevents companies from realizing their full potential. Best practice examples of pricing as well as rigorous academic research suggest that pricing based on solid scientific principles helps average companies to achieve above-average results. This paper presents a review of recent research and summarizes the fundamental principles that managers must master so that pricing becomes an enabler of lasting superior performance.

Academic research in pricing surpasses managerial practice. Managers often rely on outdated concepts when it comes to pricing strategy and tactics.

The paper presents a framework that allows managers to implement pricing strategies that improve performance.

Effective pricing strategies benefit companies, customers and other stakeholders.

The paper provides a comprehensive overview of the latest research on pricing and thus documents that pricing based on solid, scientific principles is an enable of lasting, above-average profitability.

The purpose of this study is to investigate the challenges of pricing quantity surveying (QS) professional services to enhance the understanding of practitioners in developing strategies for the determination of fees for their services.

The paper adopts the quantitative approach by administering 150 survey questionnaires QS professionals out of which 79 questionnaires were retrieved for analysis using the mean, standard deviation, standard error and the Chi-Square test.

The study identified the challenges that continue to hamper the successful pricing of QS services as the inability to respond to changing contractual arrangements; lack of appropriate response to emerging services; slow response to changes in information and communication technology.

This paper focused on QS professionals. Hence, a future study to encompass other professionals in the built environment will be novel.

The findings of this paper have the potential to motivate QS firms to develop solutions that address the challenges identified to improve the efficiency of their service delivery to clients. The paper also has the practical importance of opening up new frontiers of research that focus on pricing of professional services in the built environment in general.

The paper contributes to the awareness and understanding of QS professionals about the challenges that continue to hamper effective pricing of their services.

This paper aims to investigate how firms such as Xerox, which have transitioned to a digital servitization business model, bridge relational asymmetry. It continues the theme of sustainability from the traditional three pillars—environmental, economic and social sustainability—to relational in terms of the quality of the relationship between the service provider and the customers.

Using an exploratory method, qualitative data from the case of Xerox, a pioneering company that embraces servitization business models, has been gathered. The combination of exploratory archival and literature searches allows for a more in-depth understanding of servitization and how it bridges (or does not bridge) the relational asymmetry.

The results reveal that a relational dimension is inherent in the servitization business model, whereas in order to achieve sustainability, it must leverage transparency, which may be either an enabler or an impairing factor. A borderline for a transparent relationship that distinguishes these two parameters is established.

The study's single-case firm was limited to Xerox as an industry forerunner and could only represent mature and multinational enterprises.

With the purpose of providing high-quality service, this exploratory paper gives managers rational insight into whether and when it is sustainable to fill the relational asymmetry between them as service providers and their customers.

From the relational asymmetry perspective, the authors shed light on the aspect of transparency, which is a pivotal cause of any asymmetric relationship. Through the case of Xerox, the study further sheds light on the dual effect of transparency, which could either be an “enabling” or an “impairing” factor. Putting it together, the use of interaction as a basis for co-creation is at the crux of the emerging reality.

This paper examines servitization from a new perspective, proposing that the relational asymmetry bridged by servitization will determine the future of organizations that differentiate themselves through quality relationships.

Pricing is widely acknowledged as a market entry challenge for servitising companies. The purpose of this research is to ascertain the attributes that contribute to willingness to pay (WTP) for industrial services and suggest incorporating those attributes to a pricing model.

Three attributes (Quality of Service, Nearness of Service Provider and Brand Equity of Service Provider) were analyzed at three respective levels to ascertain their importance on WTP. Conventional conjoint analysis (CCA), using an orthogonal design, was the method used. The 346 respondents were decision-makers and top management professionals from various industries.

Brand Equity emerged as the most significant attribute contributing to WTP, having more than 45% importance – followed by the Quality and Nearness.

The scope of the study is limited to the industries and its Allies. However, the relative importance of the attributes may vary depending on the type of service.

The importance of attributes and their WTP preference helps future researchers create a pricing model involving these attributes. This helps service providers price their services rationally, thus succeeding in servitization.

Product life is extended because the manufacturers themselves are servicing it and also help recycle the product with their expertise. Servitization is also helpful for the Indian economy, as it is turning into a manufacturing economy.

This research investigates three attributes that contribute to WTP, in accordance with their level of contribution. It also provides a direction to establish an adequate pricing model for industrial services.

The purpose of this study is to provide a unique competitive advantage to businesses in providing a wide range of products to prospective customers. To the best of the author’s knowledge, there is no study to discuss the impact of customer-centric retailing on total supply chain profit under price competition between organized and unorganized retailers.

This paper considers a supply chain comprising of organized and unorganized retailers and a single manufacturer. This paper proposes three mathematical models considering a customer-centric approach in a competitive environment. Stackelberg game is used to examine how members of the chain interact, and Nash equilibrium was used to find optimal strategies for players under different customer-centric approaches.

The results show that the total supply chain profit is higher when both organized and unorganized retailers use a customer-centric approach independently instead of collaborating process. The result, in addition, establishes that when the dissatisfying cost exceeds a certain threshold (1.5), the total profit is higher for the organized customer-centric effort model compared to the other two models.

The main contribution of the study is to examine the effect of customer-centric retailing, considering dissatisfying costs on supply chains profit and individual decision-making under price competition between organized retailers and unorganized retailers. The authors developed different mathematical models in the different customer-centric approach.