A stochastic dynamic pricing model for mass consumer products
Consumer goods companies decides prices for large variety of products, considering that they handle several brands and number presentations. These decisions may generate dilution, which affects sales of other portfolio products and future sales of the same product, causing a considerable loss in rev...
- Autores:
-
López Cornejo, Daniel Camilo
- Tipo de recurso:
- Fecha de publicación:
- 2017
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/34298
- Acceso en línea:
- http://hdl.handle.net/1992/34298
- Palabra clave:
- Fijación de precios
Administración de ingresos
Análisis estocástico
Ingeniería
- Rights
- openAccess
- License
- https://repositorio.uniandes.edu.co/static/pdf/aceptacion_uso_es.pdf
| Summary: | Consumer goods companies decides prices for large variety of products, considering that they handle several brands and number presentations. These decisions may generate dilution, which affects sales of other portfolio products and future sales of the same product, causing a considerable loss in revenue. We propose a stochastic optimization model to quantify the impact of the potential dilution on sales and provide the optimal policy in order to maximize profit, focusing on sales through a retail channel. We tested our model on a case study in the industry, using data of a leader company of massive consumer market, and discussed the results obtained. |
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