Vol. 1 No. 2 (2014): Vol 1, Iss 2, Year 2014
Articles
Published
December 30, 2014
Keywords
- Dynamic pricing, Price multiplier, influencing variables
How to Cite
D, S. (2014). DYNAMIC PRICING MODEL USING PRICE MULTIPLIERS FOR ONLINE BUS TICKET BOOKING. Kongunadu Research Journal, 1(2), 23-30. https://doi.org/10.26524/krj33
Abstract
Dynamic pricing is a price determination by the buyer and seller at the time of transaction. In the present study we propose a dynamic pricing approach for the online bus ticket booking. The proposed pproach is based on having “price multipliers” that vary around “1” and provide a varying iscount/premium over the base price. The price multipliers are functions of certain influencing variables .The values of price multipliers are determined based on analysis of price multipliers and its demand variation. We have tested the proposed approach by successfully applying it to the online bus ticket booking for the route “Chennai - Mudalur 2012” of Ticketgoose.com, an online bus ticket booking firm as a case study
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