Dynamic Pricing in Ecommerce using Neural Network approach

Abstract

Price optimization uses mathematical approach to determine how the customers will react to various prices for the same product through various medium. Determining retail price of the product is the Challenging effort for the retailer to sustain in the market.

                Every seller intends to fix the retail price of the product .So that their revenue is maximized. The approach adjust the retail price of the product dynamically using neural network in order to increase the revenue .In this paper an Artificial Neural Network used to determine optimum price for the product .The model uses back propagation algorithm to get desired output with high accuracy