Method and apparatus for automated demand trend correction during dynamic pricing

摘要

Techniques are described for automated dynamic pricing of a product according to the demand trend for the product and by isolating the effect of price on the demand for the product. Price candidates for a product are either offered in parallel or in series to determine an optimal price. The offering of price candidates accounts for market trends that affect the optimal price for a product. Once an optimal price is offered for a product, the optimal price is monitored using an automated monitor process. During the automated monitor process, periodic demand measurements (L2B measurements) are taken for the optimal price. If there is a significant change in demand, the monitor process will trigger a re-offering of price candidates to determine a new optimal price.