A B2B PRICE OPTIMIZATION MODEL

Todor Krastevich ()
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Todor Krastevich: D. A. Tsenov Academy of Economics, Svishtov, Bulgaria
Authors registered in the RePEc Author Service: Тодор Кръстевич

Economic Science, education and the real economy: Development and interactions in the digital age, 2020, issue 1, 114-122

Abstract: A prototype of a dynamic price optimization model based on current data from individual sales transactions in a B2B context is presented. The purpose of the model is to optimize bid prices (at the level of the request for quotation), considering the quantities requested, the duration of the last purchase, the influence of the reference prices and loss aversion effects. The model is based on logistic regression and allows for expansion and customization by including other controllablenon-price factors that presumably influence the purchase decision.

Keywords: business-to-business marketing; pricing; customer relationship management; logistic regression (search for similar items in EconPapers)
JEL-codes: C51 M31 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrn:cfdide:y:2020:i:1:p:114-122

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