PRICE AUTOMATION MODELSIN B2C MARKETS

Evgeniya Tonkova ()
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Evgeniya Tonkova: University of Economics –Varna, Bulgaria

Economic Science, education and the real economy: Development and interactions in the digital age, 2020, issue 1, 71-79

Abstract: Despite the progress in the development of other elements of the marketing mix, price remains a significant variable that influences companies' market performance through consumer decisions. Price automation is predetermined by the need to project an adequate environmentally friendly price that contributes to the sustainable growth of company‘s revenues by maximizing average sales prices of products across markets / segments / consumers. The variety of risks that arise from the specifics of the product, object, entity, etc. in the manufacturing and distribution phase cast doubt on the traditional pricing models that are characterized by relative stability over time and form a base price to the end-users. Taking into account changes in the environment, product, customer interactions and current results will enable companies to design a dynamic price that ensures marketing goals are met. Price automation models in their diverse range of applications and variables can contribute to price relevance and address current business problems such as overstock inventory, incomplete assortment, defective product losses, inadequate market and customer-specific pricing, etc.

Keywords: price automation; price models; dynamic pricing (search for similar items in EconPapers)
JEL-codes: D40 M31 (search for similar items in EconPapers)
Date: 2020
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