Dynamic Pricing Support Systems for DIY Retailers – a Case Study from Austria

Martin Natter 1 , Thomas Reutterer 2 ,  and Andreas Mild 3
  • 1 Hans Strothoff Professor of Retail Marketing at the Johann Wolfgang Goethe-University Frankfurt, Germany
  • 2 Associate Professor at the Institute for Retailing and Marketing, Vienna University of Economics and Business Administration, Austria
  • 3 Associate Professor at the Institute for Production Management, Vienna University of Economics and Business Administration, Austria

Abstract

Merchandise managers have long dreamt of automated dynamic systems to help them make well-informed pricing decisions. However, such systems have proved as elusive as the Holy Grail - until now, that is. The story of an Austrian DIY retailer shows often undetected opportunities to use valuable information, hidden in retailers’ data warehouses, on consumer reactions to previous price changes in order to make automatic pricing and promotion decisions.

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