Dynamic pricing models and its methodological aspects

Indrė Deksnytė, Zigmas Lydeka
2013 Taikomoji ekonomika: sisteminiai tyrimai / Applied economics: systematic research  
introduction In the xxI century organizations still face the problem of the optimal price determination search for goods and services in order to maximize their profits. Revenue management were practiced for more than 40 years and have gained the popularity in retail. One such approach is dynamic pricing (hereafter DP), that refers to the process of controlling product prices over the sales season to maximize an expected revenue. Indrė DEKSNYTĖ, Zigmas lYDEKA dynamic pricing models and its
more » ... models and its methodological aspects The article deals with dynamic pricing (DP) models methodological aspects, how to model DP in different spheres of services/industries, which factors have a significant effect on the DP formation and what are the benefits of DP application in practice. This paper discusses the concept of dynamic pricing, the dynamic pricing models principles, problems, main methodological assumptions and methods in retail. Therefore the aim of this paper is to analyse the dynamic pricing models principles and problems and to represent the results of DP forming factors evaluated by AHP method.
doi:10.7220/aesr.1822.7996.2013.7.2.10 fatcat:tsg62rpcyffhjmxf2f2cxoajxy