On Masters of Scale, iconic business leaders share lessons and strategies that have helped them grow the world's most fascinating companies. Founders, CEOs, and dynamic innovators join candid conversations about their triumphs and challenges with a set of luminary hosts, including founding host Reid Hoffman (LinkedIn co-founder and Greylock partner). From navigating early prototypes to expanding brands globally, Masters of Scale provides priceless insights to help anyone grow their dream ent ...
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Algorithms Won’t Solve All Your Pricing Problems
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Manage episode 304959662 series 7702
Content provided by Harvard Business Review. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Harvard Business Review or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Marco Bertini, marketing professor at Esade Business School, says more and more companies are turning to pricing algorithms to maximize profits. But many are unaware of a big downside. The constant price shifts can hurt the perception of the brand and its products. He warns that overreliance on artificial intelligence and machine learning without considering human psychology can cause serious damage to the customer relationship. And he outlines steps managers should take, including implementing guardrails, overrides, and better communication tactics. With London Business School professor Oded Koenigsberg, Bertini wrote the HBR article "The Pitfalls of Pricing Algorithms."
…
continue reading
981 episodes
MP3•Episode home
Manage episode 304959662 series 7702
Content provided by Harvard Business Review. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Harvard Business Review or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Marco Bertini, marketing professor at Esade Business School, says more and more companies are turning to pricing algorithms to maximize profits. But many are unaware of a big downside. The constant price shifts can hurt the perception of the brand and its products. He warns that overreliance on artificial intelligence and machine learning without considering human psychology can cause serious damage to the customer relationship. And he outlines steps managers should take, including implementing guardrails, overrides, and better communication tactics. With London Business School professor Oded Koenigsberg, Bertini wrote the HBR article "The Pitfalls of Pricing Algorithms."
…
continue reading
981 episodes
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