Correspondence: Harun Ahmet Kuyumcu, Prorize LLC, 12138 Madison Drive, Atlanta, GA 30346, USA. Tel: +1 678 622 8855; E-mail: akuyumcu@prorize.com

¹Harun Ahmet Kuyumcu is the founder of Prorize and engaged with The Rainmaker Group developing next-generation pricing solutions for gaming resorts and multi-family housing firms. He has over 12 years of hands-on experience building profit-generating pricing systems across wide range of industries. Previously chief scientist at Zilliant and senior scientist at Talus (now JDA), Ahmet also taught graduate-level courses in pricing and revenue management at the University of Texas at Austin. He has published several articles in professional journals. He holds MS and PhD degrees in Operations Research from Texas A&M University.

Received 7 July 2007; Revised 7 July 2007.

Abstract

There is no more important process than the way a business makes pricing decisions. Companies can no longer afford to fail in their pricing decisions: all products and services must be priced right, all the time. Today's rapidly changing market conditions make determining the right price extremely complicated. Accordingly, the field of scientific pricing is in the midst of revolutionary changes. This paper calls attention to some of these changes and makes 'guesstimates' about emerging trends. These involve the topics of competitive pricing, information asymmetry, segmentation, performance evaluation, price sensitivity and pricing education.