Vol. 8 Issue 3
Year:2014
Issue:Apr-Jun
Title:Discount Analysis for Decision Indication in Retail Mart
Author Name:K. Lavanya, J. Sheik Mohamed and S. Ramakrishna
Synopsis:
Businesses use discount pricing strategy to sell the products in high quantities. With this strategy, it is important to cut costs and stay competitive. Large retailers are able to demand price discounts and make a discount pricing strategy effective. The shopping mart in general gives different kinds of discounts such as one plus one offer, cost reduction, bulk discount and seasonal offers on near expiry products and low sales products. In this study, the Discount Offering algorithm is proposed and implemented to help the retailer to make effective decision by listing out the products with its discount details. This algorithm automatically calculates the combination of products for selling one plus one offer, cost reduction techniques, bulk discount offer and seasonal offer by comparing cost, expiry date and lowest sales of all the products in the retail mart. The main advantage of this approach is that it attracts attention and boost up sales for retailer.
Year:2014
Issue:Apr-Jun
Title:Discount Analysis for Decision Indication in Retail Mart
Author Name:K. Lavanya, J. Sheik Mohamed and S. Ramakrishna
Synopsis:
Businesses use discount pricing strategy to sell the products in high quantities. With this strategy, it is important to cut costs and stay competitive. Large retailers are able to demand price discounts and make a discount pricing strategy effective. The shopping mart in general gives different kinds of discounts such as one plus one offer, cost reduction, bulk discount and seasonal offers on near expiry products and low sales products. In this study, the Discount Offering algorithm is proposed and implemented to help the retailer to make effective decision by listing out the products with its discount details. This algorithm automatically calculates the combination of products for selling one plus one offer, cost reduction techniques, bulk discount offer and seasonal offer by comparing cost, expiry date and lowest sales of all the products in the retail mart. The main advantage of this approach is that it attracts attention and boost up sales for retailer.
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