Ortec

Graduation project: Price Perception and Price Sensitivity in Online Retail

Job location:
Amsterdam; Zoetermeer

Job description:
As a Graduate Intern at ORTEC you will be part of a unique organization and team!

In retail price is one of the key factors driving the demand for a product. Many companies consider it an incredible challenge to determine what price is right for their product under which circumstances, to match their customers willingness to pay. Determining this price is possible if you know the price elasticity of a product. The challenge of course is that price elasticity is a theoretical concept, which is not always practical and applicable.

In this graduation research you’ll investigate customers perception of prices, what their willingness to pay is and how it is influenced by price distance to competitors and/or the average market price. With your findings you’ll advice on what guidelines can be used to set prices for the product group you researched.

The following data will be available: historical product sales at different prices, market benchmarks of prices and data with promotions. You will closely cooperate with both your supervisor from ORTEC and an online retailer, where you will also have a supervisor and work on location.

Objectives

The objective of this research is to study price perception and price sensitivity in an online retail environment.

Possible research questions

  • What price distance compared to competitors and/or market averages yields the most uplift?
  • What is the relationship between price and perceived value, what factors effect this relationship?

Activities

  1. You will preprocess data for analysis (you can count on actual, good quality data).
  2. You will have interviews and brainstorming sessions to get to know the business and most interesting subjects and questions to zoom in on.
  3. You will analyze and/or model the data to translate it into meaningful insights for all your stakeholders.
  4. You will document and present your findings.

Who you are:

  • You are a master’s student with both business affinity and quantitative skills required to do advanced analytics. Your graduation requirements must match this study and you possess (data science) and soft (business) skills.
  • You can handle a high degree of complexity and work in a team
  • You’re conscientious about staying abreast of new developments
  • You are passionate about Data Science
  • You are interested in getting to know the specific business questions
  • You possess skills in coding algorithms, including for advanced analytics
  • Able to fluently communicate in English and Dutch (verbally and in writing)

What we offer:

  • Entrance to the most passionate powerhouse in applied mathematics
  • You will be able to work on-site at this customer
  • Join our movement and improve the world
  • Enjoy an open, kind and fun culture
  • Active employee association for fun activities with colleagues and content driven Young ORTEC for you to join
  • Football table, our own bar the “ORtap”, Christmas party, annual barbecue at one of our founders’ home, and much more
  • Excellent supervision during your graduation project
  • Good internship allowance and a laptop
  • Activities with all graduate students at ORTEC, like Friday afternoon drinks

What to expect:

We will help you to thrive in your field of expertise. We offer development programs, tailored to your individual needs and function requirements, including opportunities to attend courses and seminars. We offer challenging, practical hands-on experience with opportunities to work abroad. We operate in a flat organizational structure that keeps communication lines short. The atmosphere is open, informal, cooperative and positive. We employ over 800 people in the Netherlands (HQ), Belgium, Germany, France, the U.K., Romania, Italy, the U.S., Australia, Brazil, Poland, Denmark and Singapore.

Visit our website www.ortec.com to learn more about our solutions and clients’ experiences.

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