PRESENTER: Tim Smith, PhD is an Adjunct Professor of Marketing at DePaul University and Managing Principal of Wiglaf Pricing, and author of Hawks, Seagulls, and Mice, Paradigms for Systematically Growing Revenue in Business Markets. His research focuses on applying quantitative and qualitative rigor to enable price decision making in the face of uncertainty.   Quantitative Methods in Discount Management Immediately after that moment that prices have been set, executives are faced with the challenge of discounting. Furthermore, discount decisions can chew up more resources and cause more organizational conflict than any other pricing decision. While some executives would like to eliminate all discounts, discounting is a form of price segmentation and, properly managed, can actually improve profitability. On the other hand, left to its own, discounting will spread like a virus affecting all transactions and wreak havoc on profits.   In this workshop, we will look at the three commonly used tools for analyzing firm specific discounting practices, and the four commonly used tools executives have to restrain them. We will also use economic models to show the value of discounting and the influences of Prospect Theory and Nash Equilibrium on discounting policy.   Attendees will learn quantitative models, at an executive level of How Discounting can simultaneously lower market entrance prices, increase volumes, and improve profitability Quantitative methods for measuring and monitoring discounting policy Quantitative and managerial tools for restraining discounts Implications of Prospect Theory and the Nash Equilibrium on discounting policy