A Price Sensitivity Based Intelligent Pricing System for Global E-commerce

Pelin Yurdadön; Başar Öztayşi; Egemen Berki Çimen

doi:10.1007/978-3-031-09173-5_111

A Price Sensitivity Based Intelligent Pricing System for Global E-commerce

Pelin Yurdadön, Başar Öztayşi^*, Egemen Berki Çimen

^*Corresponding author for this work

Department of Industrial Engineering

Modanisa Head Office

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

Modanisa is a global E-commerce company which provide modest fashion products. Since each country has different currency and different economic conditions, purchasing capacity of the residents change. As a result, the price that the market is willing to pay vary among the countries. Price sensitivity is the degree to which demand changes when the cost of a product or service changes. Price sensitivity is commonly measured using the price elasticity of demand, which states that some consumers won’t pay more if a lower-priced option is available. In this study, a decision support system is proposed based on price sensitivity of products. To this end, first previous data is processed to obtain the price sensitivity. At the second step, a mathematical model, which aims to maximize the profit, is proposed. In order to show the efficiency of the approach a mathematical model is also provided.

Original language	English
Title of host publication	Intelligent and Fuzzy Systems - Digital Acceleration and The New Normal - Proceedings of the INFUS 2022 Conference
Editors	Cengiz Kahraman, Sezi Cevik Onar, Basar Oztaysi, Irem Ucal Sari, A. Cagri Tolga, Selcuk Cebi
Publisher	Springer Science and Business Media Deutschland GmbH
Pages	974-981
Number of pages	8
ISBN (Print)	9783031091728
DOIs	https://doi.org/10.1007/978-3-031-09173-5_111
Publication status	Published - 2022
Event	International Conference on Intelligent and Fuzzy Systems, INFUS 2022 - Izmir, Turkey Duration: 19 Jul 2022 → 21 Jul 2022

Publication series

Name	Lecture Notes in Networks and Systems
Volume	504 LNNS
ISSN (Print)	2367-3370
ISSN (Electronic)	2367-3389

Conference

Conference	International Conference on Intelligent and Fuzzy Systems, INFUS 2022
Country/Territory	Turkey
City	Izmir
Period	19/07/22 → 21/07/22

Bibliographical note

Publisher Copyright:
© 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.

Funding

Acknowledgements. This work is supported by TUBITAK (The Scientific and Technological Research Council of Turkey) under project number 3190848.

Funders	Funder number
Türkiye Bilimsel ve Teknolojik Araştırma Kurumu	3190848

Keywords

E-commerce
Price sensitivity
Pricing system

Access to Document

10.1007/978-3-031-09173-5_111

Cite this

Yurdadön, P., Öztayşi, B., & Çimen, E. B. (2022). A Price Sensitivity Based Intelligent Pricing System for Global E-commerce. In C. Kahraman, S. Cevik Onar, B. Oztaysi, I. U. Sari, A. C. Tolga, & S. Cebi (Eds.), Intelligent and Fuzzy Systems - Digital Acceleration and The New Normal - Proceedings of the INFUS 2022 Conference (pp. 974-981). (Lecture Notes in Networks and Systems; Vol. 504 LNNS). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/978-3-031-09173-5_111

Yurdadön, Pelin ; Öztayşi, Başar ; Çimen, Egemen Berki. / A Price Sensitivity Based Intelligent Pricing System for Global E-commerce. Intelligent and Fuzzy Systems - Digital Acceleration and The New Normal - Proceedings of the INFUS 2022 Conference. editor / Cengiz Kahraman ; Sezi Cevik Onar ; Basar Oztaysi ; Irem Ucal Sari ; A. Cagri Tolga ; Selcuk Cebi. Springer Science and Business Media Deutschland GmbH, 2022. pp. 974-981 (Lecture Notes in Networks and Systems).

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abstract = "Modanisa is a global E-commerce company which provide modest fashion products. Since each country has different currency and different economic conditions, purchasing capacity of the residents change. As a result, the price that the market is willing to pay vary among the countries. Price sensitivity is the degree to which demand changes when the cost of a product or service changes. Price sensitivity is commonly measured using the price elasticity of demand, which states that some consumers won{\textquoteright}t pay more if a lower-priced option is available. In this study, a decision support system is proposed based on price sensitivity of products. To this end, first previous data is processed to obtain the price sensitivity. At the second step, a mathematical model, which aims to maximize the profit, is proposed. In order to show the efficiency of the approach a mathematical model is also provided.",

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Yurdadön, P, Öztayşi, B & Çimen, EB 2022, A Price Sensitivity Based Intelligent Pricing System for Global E-commerce. in C Kahraman, S Cevik Onar, B Oztaysi, IU Sari, AC Tolga & S Cebi (eds), Intelligent and Fuzzy Systems - Digital Acceleration and The New Normal - Proceedings of the INFUS 2022 Conference. Lecture Notes in Networks and Systems, vol. 504 LNNS, Springer Science and Business Media Deutschland GmbH, pp. 974-981, International Conference on Intelligent and Fuzzy Systems, INFUS 2022, Izmir, Turkey, 19/07/22. https://doi.org/10.1007/978-3-031-09173-5_111

A Price Sensitivity Based Intelligent Pricing System for Global E-commerce. / Yurdadön, Pelin; Öztayşi, Başar; Çimen, Egemen Berki.
Intelligent and Fuzzy Systems - Digital Acceleration and The New Normal - Proceedings of the INFUS 2022 Conference. ed. / Cengiz Kahraman; Sezi Cevik Onar; Basar Oztaysi; Irem Ucal Sari; A. Cagri Tolga; Selcuk Cebi. Springer Science and Business Media Deutschland GmbH, 2022. p. 974-981 (Lecture Notes in Networks and Systems; Vol. 504 LNNS).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AU - Öztayşi, Başar

AU - Çimen, Egemen Berki

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N2 - Modanisa is a global E-commerce company which provide modest fashion products. Since each country has different currency and different economic conditions, purchasing capacity of the residents change. As a result, the price that the market is willing to pay vary among the countries. Price sensitivity is the degree to which demand changes when the cost of a product or service changes. Price sensitivity is commonly measured using the price elasticity of demand, which states that some consumers won’t pay more if a lower-priced option is available. In this study, a decision support system is proposed based on price sensitivity of products. To this end, first previous data is processed to obtain the price sensitivity. At the second step, a mathematical model, which aims to maximize the profit, is proposed. In order to show the efficiency of the approach a mathematical model is also provided.

AB - Modanisa is a global E-commerce company which provide modest fashion products. Since each country has different currency and different economic conditions, purchasing capacity of the residents change. As a result, the price that the market is willing to pay vary among the countries. Price sensitivity is the degree to which demand changes when the cost of a product or service changes. Price sensitivity is commonly measured using the price elasticity of demand, which states that some consumers won’t pay more if a lower-priced option is available. In this study, a decision support system is proposed based on price sensitivity of products. To this end, first previous data is processed to obtain the price sensitivity. At the second step, a mathematical model, which aims to maximize the profit, is proposed. In order to show the efficiency of the approach a mathematical model is also provided.

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Yurdadön P, Öztayşi B, Çimen EB. A Price Sensitivity Based Intelligent Pricing System for Global E-commerce. In Kahraman C, Cevik Onar S, Oztaysi B, Sari IU, Tolga AC, Cebi S, editors, Intelligent and Fuzzy Systems - Digital Acceleration and The New Normal - Proceedings of the INFUS 2022 Conference. Springer Science and Business Media Deutschland GmbH. 2022. p. 974-981. (Lecture Notes in Networks and Systems). doi: 10.1007/978-3-031-09173-5_111

A Price Sensitivity Based Intelligent Pricing System for Global E-commerce

Abstract

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Keywords

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