In episode three, host Michael and special guests Mark Felix and Joel Robinson dive into the intricacies of pricing strategy, drawing valuable lessons from the retail and hospitality sectors. Joel, founder of Openr, shares insights from his extensive experience in both grocery and hospitality, emphasizing the transformative potential of sophisticated pricing management. Mark Felix, with a rich background in various retail roles including Chief Commercial Officer at the AA and positions at Sainsbury's and John Lewis, brings his expertise to the conversation. The discussion covers key value indicators, the importance of continuous experimentation in pricing, leveraging customer loyalty data, and the potential impact of AI and technology on optimizing pricing strategies. Key takeaways include the necessity for dynamic and data-driven approaches to pricing in the face of economic challenges, and the importance of creating a culture of experimentation to drive business value.

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#3 A Podcast Series with Openr & Mark Felix, CCO of The AA - Unlocking the Secrets of Effective Pricing Strategy in Hospitality