Fuzzy LP with a Non-Linear MF for Product-Mix solution: A Case-Based Re-modelling and Solution

Susanto, Sani; Vasant, Pandian; Bhattacharya, Arijit; Pratikto, Fransiscus Rian

doi:10.2991/jcis.2006.305

Cited by 2 publications

(1 citation statement)

References 18 publications

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“…Customer segmentation is another marketing field that has witnessed the significant application of fuzzy logic [12]. The marketing mix, pricing, and strategy are another prominent area of fuzzy applications in marketing science [13,14,15,16]. In all these applications, marketers have seen an increase in the gathering of marketing analysis because of the use of fuzzy logic in several aspects of marketing science.…”

Section: Literature Reviewmentioning

confidence: 99%

Fuzzy Expert Pricing Systems and Optimization Techniques in Marketing Science

Dairo¹,

Szűcs²

2020

Fuzzy Systems and Data Mining VI

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Despite the advancement in the mathematical models for solving and modeling marketing problems, there exists gap between model predictions and market reality. Fuzzy logic bridges this gap by providing marketers with the opportunity of combining robust human experts in the form of linguistic rules to formulate a knowledge-base. These rules are systematically developed into a marketing tool which provides intelligent pricing decision support for marketers in a dynamic and competitive environment. In this paper, these expert pricing systems which are designed and developed to help businesses in pricing decision-making are examined. Price-Strat, FuzzyPrice, and exPrice expert pricing systems are compared and discussed. These three expert pricing systems are explored along with their fuzzy development approach, effectiveness, and attributes in pricing products and services.

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