Applied Aspects of Automated Pricing in B2C Marketing
Journal Title: International Conference on Marketing and Business Development - Year 2017, Vol 0, Issue 1
Abstract
Technological developments over the past two decades have had a strong impact on the marketing elements. New opportunities for marketing creativity have been revealed that go beyond the traditionally best covered areas: product development and advertising. The application of innovations in pricing decisions and in the technology of their implementation in marketing is an important step towards the successful sale of products on B2C markets. Balancing investment in innovations according to the components of the marketing mix is a necessity in the new conditions of competition and market dynamics. Automated pricing has great potential for use on B2C online and offline markets. Its implementation is aimed at absorbing the yield potential based on "the price that the consumer is willing to pay" under certain circumstances and under the influence of specific factors. The linking of automated pricing with the costs and risks accompanying the marketing of products and services is also of interest. The paper deals with the significant applied aspects of automated pricing in B2C marketing and presents the views of companies on their applicability and concrete benefits for businesses and consumers.
Authors and Affiliations
Evgeniya Tonkova
Keywords
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