Icon

MS-242 Dynamic Prices v05

[Market Simulation] MS-242 Dynamic Prices
Market Simulation (MS-242) - Dynamic PricesDynamic Prices allow Prices to vary by Customers. Different Customers mightget different Prices because they can negotiate higher discounts. OrCustomer Prices may vary because of different Shipping Costs.The Price Adjustment Variable (PAV) might be used when Prices vary by apercentage - such as when certain Customers get a percentage discount. ThePrice Adjustment Fixed (PAF) might represent different Shipping Costs. Competitive Story:Spacely Sprockets and Cogswell Cogs both offer Gold, Silver, and Bronzemembership to their customers. Higher membership means higher discounts.Gold members of one competitor are likely to also be Gold members of the other.Both competitors ship to all over the country. Spacely Sprockets is located on theWest Coast so shipping to their West Coast customers is cheaper. CogswellCogs, on the other hand, is located on the East Coast and charges a smallershipping fee to East Coast customers. Percentage Membership:* Gold = 10%* Silver = 20%* Bronze = 30%* None = 40% Membership Discount:* Gold = 30%* Silver = 20%* Bronze = 10%* None = 0% Willingness To Pay (WTP):* Gold = $700 (mean)* Silver = $600* Bronze = $500* None = $400 Shipping Costs:Location = Spacely / Cogswell* West Coast = $50 / $150* Middle Town = $100 / $100* East Coast = $150 / $5010000 CustomersIn Emtpy TableSpacelyMembershipSpacely WTPby MembershipCogswell MembershipCorrelated withSpacely MembershipCogswell WTPby MembershipSpacelyDiscount(PAV)CogswellDiscount(PAV)LocationSpacelyShipping Cost(PAF)CogswellShipping Cost(PAF)InputProduct ArrayNo DynamicPricesWith DynamicPricesPlot ProductDemand CurveFilter ProductDemand CurveFilter ProductDemand CurvePlot ProductDemand CurveMembershipLevelsShippingLocations Empty Table Creator Random LabelAssigner Gaussian DistributedAssigner ConditionalLabel Assigner Gaussian DistributedAssigner Rule Engine Rule Engine Random LabelAssigner Rule Engine Rule Engine Table Creator Demand Curve Demand Curve Line Chart(JFreeChart) Row Filter Row Filter Line Chart(JFreeChart) Pie Chart(JFreeChart) Pie Chart(JFreeChart) Market Simulation (MS-242) - Dynamic PricesDynamic Prices allow Prices to vary by Customers. Different Customers mightget different Prices because they can negotiate higher discounts. OrCustomer Prices may vary because of different Shipping Costs.The Price Adjustment Variable (PAV) might be used when Prices vary by apercentage - such as when certain Customers get a percentage discount. ThePrice Adjustment Fixed (PAF) might represent different Shipping Costs. Competitive Story:Spacely Sprockets and Cogswell Cogs both offer Gold, Silver, and Bronzemembership to their customers. Higher membership means higher discounts.Gold members of one competitor are likely to also be Gold members of the other.Both competitors ship to all over the country. Spacely Sprockets is located on theWest Coast so shipping to their West Coast customers is cheaper. CogswellCogs, on the other hand, is located on the East Coast and charges a smallershipping fee to East Coast customers. Percentage Membership:* Gold = 10%* Silver = 20%* Bronze = 30%* None = 40% Membership Discount:* Gold = 30%* Silver = 20%* Bronze = 10%* None = 0% Willingness To Pay (WTP):* Gold = $700 (mean)* Silver = $600* Bronze = $500* None = $400 Shipping Costs:Location = Spacely / Cogswell* West Coast = $50 / $150* Middle Town = $100 / $100* East Coast = $150 / $5010000 CustomersIn Emtpy TableSpacelyMembershipSpacely WTPby MembershipCogswell MembershipCorrelated withSpacely MembershipCogswell WTPby MembershipSpacelyDiscount(PAV)CogswellDiscount(PAV)LocationSpacelyShipping Cost(PAF)CogswellShipping Cost(PAF)InputProduct ArrayNo DynamicPricesWith DynamicPricesPlot ProductDemand CurveFilter ProductDemand CurveFilter ProductDemand CurvePlot ProductDemand CurveMembershipLevelsShippingLocationsEmpty Table Creator Random LabelAssigner Gaussian DistributedAssigner ConditionalLabel Assigner Gaussian DistributedAssigner Rule Engine Rule Engine Random LabelAssigner Rule Engine Rule Engine Table Creator Demand Curve Demand Curve Line Chart(JFreeChart) Row Filter Row Filter Line Chart(JFreeChart) Pie Chart(JFreeChart) Pie Chart(JFreeChart)

Nodes

Extensions

Links

Download

To use this workflow in KNIME, download it from the below URL and open it in KNIME:

Download Workflow
Created by: Berlin
Created at: 2020-08-03
On NodePit since: 2021-02-05
Last update: 2024-04-22
Created with KNIME version: v4.3.0

Deploy, schedule, execute, and monitor your KNIME workflows locally, in the cloud or on-premises – with our brand new NodePit Runner.

Try NodePit Runner!