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Allocating resources in pricing – which capabilities are worth fostering in the face of AI?

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  • Schmutz, Iris
  • Reinecke, Sven
  • Manole, Anne-Marie

Abstract

The field of pricing holds high potential for professionalization since it comprises a multitude of decisions based on sparse information sets, data-driven tasks and an ever more dynamic and fast-moving market environment. Therefore, advances in artificial intelligence (AI) will influence and maybe even disrupt pricing managers’ roles within the pricing process. Using a Delphi study design, we aimed to take a look at future tasks and profiles of pricing managers. The results allowed us to extend existing models of pricing capabilities and classify which skills and know-how pricing managers should nurture and which ones may be left to artificial intelligence. Furthermore, we were able to derive implications for curricula as well as talent selection.

Suggested Citation

  • Schmutz, Iris & Reinecke, Sven & Manole, Anne-Marie, 2020. "Allocating resources in pricing – which capabilities are worth fostering in the face of AI?," Die Unternehmung - Swiss Journal of Business Research and Practice, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 74(4), pages 349-364.
    • Handle: RePEc:nms:untern:10.5771/0042-059x-2020-4-349
    DOI: 10.5771/0042-059X-2020-4-349
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    References listed on IDEAS

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    3. Birger Wernerfelt, 1984. "A resource‐based view of the firm," Strategic Management Journal, Wiley Blackwell, vol. 5(2), pages 171-180, April.
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