Publication: An assortment-wide decision-support system for dynamic pricing and promotion planning in DIY retailing
An assortment-wide decision-support system for dynamic pricing and promotion planning in DIY retailing
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Natter, M., Reutterer, T., Mild, A., & Taudes, A. (2007). An assortment-wide decision-support system for dynamic pricing and promotion planning in DIY retailing. Marketing Science, 26(4), 576–583. https://doi.org/10.1287/mksc.1060.0217
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The main objective of this report is to describe a decision-support system for dynamic retail pricing and pro-motion planning. Our weekly demand model incorporates price, reference price effects, seasonality, article availability information, features, and discounts. Building on previous research, we quantify demand interdependencies and integrate the resulting profit-lifting effects into the optimal pricing model. The methodology was developed and implemented at bauMax, an Austrian do-it-yourself retailer. Along with the practical re
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- Reutterer, Thomas
- Mild, Andreas
- Taudes, Alfred
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Citations
Natter, M., Reutterer, T., Mild, A., & Taudes, A. (2007). An assortment-wide decision-support system for dynamic pricing and promotion planning in DIY retailing. Marketing Science, 26(4), 576–583. https://doi.org/10.1287/mksc.1060.0217