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Authors:
Maxime Cohen (New York University); Georgia Perakis (Massachusetts Institute of Technology)
Published in:
2017
Revision date:
08-Mar-2017
Length:
9 pages
Data source:
Generalised experience

Abstract

In this case, we expose the students to the issues faced by a supermarket manager seeking to optimize price promotions for a category of products. The students will learn: how to handle data, demand modeling and forecasting, business rules and mathematical modeling, optimization formulation, solving linear programs, and how to measure the practical impact of the approach. The case includes data sets so that the students can experience handling data. The approach encompasses the entire process behind promotion planning, from data collection to optimizing promotion decisions.

Topics

Promotions; Pricing; Optimization modeling; Demand estimation; Data analytics; Retail analytics

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