PRICING PERSONALIZED PACKAGES WITH MULTIPLE COMMODITIES
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United States of America Patent
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Issued Date -
Oct 16, 2014
app pub date -
Apr 16, 2013
filing date -
Apr 16, 2013
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Abstract
A top-down and bottom-up approach that decomposes product bundles to components, classifies them into different groups corresponding to a component similarity measure, and detects their inherent values. The bundles are reassembled and characterized by several key attributes according to their component inherent values, and classified into segments. A normalized utility model is constructed for each product bundle segment, taking into account the additive effect among different commodity types and product families. The goodness of fit of the top-down and the bottom-up model may be validated. The model may be applied in an RFQ pricing environment.
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