How Price Elasticity Affects Consumer Behavior with Anshu Jalora

<p> <strong>Anshu </strong><strong>Jalora</strong><strong> </strong>is the Founder and Managing director of Sciative Solutions Private Ltd., used to be a Director of Pricing Strategy at Starbucks, Pricing Scientist at PROS, and Director of Pricing at Overstock. </p> <p>In this episode, Anshu talks about how true price elasticity brings about change in customers behavior and creates great impact in business. He shares about what his company, Sciative does at optimizing pricing, simplifying solutions from massive data to generate insights in lightning-fast speed necessary for decision making needed to make a maximum impact to the business. </p> <p> </p> <p><strong>Why you have to check out today’s podcast:</strong> </p> <ul> <li>Find out what Sciativedo to help businesses maximize value in the massive data available to them </li> <li>Find out the two crucial things that make a huge impact in a customer's traffic pattern</li> <li>Learn how to achieve bringing in customers from low-end products to high-end products with the understanding of price elasticity and consumer behavior</li> </ul> <p> </p> <p align="center"><strong>“Focus on three V’s - Value, Variety, and Velocity. As you're looking at your pricing processes, focus on these three V's.”</strong> </p> <p align="center"><em>- Anshu Jalora</em> </p> <p> </p> <p><strong>Topics Covered:</strong> </p> <p>02:17 - An interesting story related to his Ph.D. story </p> <p>03:30 - How he got into Pricing </p> <p>04:07 - What made him like Pricing </p> <p>06:09 - Success stories in B2C in terms of applying scientific models for pricing </p> <p>08:52 - Capturing value through individual customer level or collection of customers together </p> <p>09:32 - Talking about the coined word Sciative </p> <p>10:39 - How can Sciative help businesses truly find value in the massive data that they have </p> <p>13:36 - Price elasticity and consumer behavior </p> <p>15:26 - Two things that basically make a huge impact on a customer's traffic pattern </p> <p>21:20 - His thoughts on the c