Methodology for pricing using price elasticity of demand. Case type: automotive parts sector
The pricing in the company under study, dedicated to the marketing of automotive parts sector, is done empirically for at least 50,000 products. This paper establishes a methodology for the allocation and change in the price level of these products, using as a tool, price elasticity of demand. For t...
| Main Authors: | , , |
|---|---|
| Format: | Online |
| Language: | spa |
| Published: |
Universidad Pedagógica y Tecnológica de Colombia
2012
|
| Subjects: | |
| Online Access: | https://revistas.uptc.edu.co/index.php/cenes/article/view/13 |
| _version_ | 1801705911917477888 |
|---|---|
| author | Guerrero-Garzón, Patricia Paola Hernández Losada, Diego Fernando Díaz Monroy, Luis Guillermo |
| author_facet | Guerrero-Garzón, Patricia Paola Hernández Losada, Diego Fernando Díaz Monroy, Luis Guillermo |
| author_sort | Guerrero-Garzón, Patricia Paola |
| collection | OJS |
| description | The pricing in the company under study, dedicated to the marketing of automotive parts sector, is done empirically for at least 50,000 products. This paper establishes a methodology for the allocation and change in the price level of these products, using as a tool, price elasticity of demand. For that purpose, we initially do a grouping of parts according to their elasticity through the use of cluster analysis, obtaining 7 groups that are characterized quantitatively and qualitatively. Objectives and policies of pricing for these groups are determined, allowing thus establishing the methodology for the pricing of the company. Additionally, in the document the CPI calculation technique is used for determining the impact of price variation of each group on the total variation. Thus, the study shows that it is possible to establish precise methods for fixing prices through the use of price elasticity of demand. To achieve this goal for many products, it is useful to use the tools provided by the multivariate statistics as they allow better analysis of the data. Besides this, it is apparent that the use of methodologies for calculating inflation rates is useful in determining the impact of the adopted pricing policies |
| format | Online |
| id | oai:oai.revistas.uptc.edu.co:article-13 |
| institution | Revista Apuntes del Cenes |
| language | spa |
| publishDate | 2012 |
| publisher | Universidad Pedagógica y Tecnológica de Colombia |
| record_format | ojs |
| spelling | oai:oai.revistas.uptc.edu.co:article-132023-01-25T14:22:29Z Methodology for pricing using price elasticity of demand. Case type: automotive parts sector Metodología para la fijación de precios mediante la utilización de la elasticidad precio-demanda. Caso tipo: repuestos del sector automotor Guerrero-Garzón, Patricia Paola Hernández Losada, Diego Fernando Díaz Monroy, Luis Guillermo price fixing price elasticity of demand multivariate statistics cluster analysis inflation Laspeyres Index Fijación de precios elasticidad al precio de la demanda estadística multivariada análisis de conglomerados inflación índice tipo Laspeyres (Price fixing price elasticity of demand multivariate statistics cluster) The pricing in the company under study, dedicated to the marketing of automotive parts sector, is done empirically for at least 50,000 products. This paper establishes a methodology for the allocation and change in the price level of these products, using as a tool, price elasticity of demand. For that purpose, we initially do a grouping of parts according to their elasticity through the use of cluster analysis, obtaining 7 groups that are characterized quantitatively and qualitatively. Objectives and policies of pricing for these groups are determined, allowing thus establishing the methodology for the pricing of the company. Additionally, in the document the CPI calculation technique is used for determining the impact of price variation of each group on the total variation. Thus, the study shows that it is possible to establish precise methods for fixing prices through the use of price elasticity of demand. To achieve this goal for many products, it is useful to use the tools provided by the multivariate statistics as they allow better analysis of the data. Besides this, it is apparent that the use of methodologies for calculating inflation rates is useful in determining the impact of the adopted pricing policies El establecimiento de precios en la empresa dedicada a la comercialización de repuestos para vehículos, objeto de este estudio se realiza de forma empírica para, al menos, 50.000 productos. En este documento se establece una metodología para la asignación y modificación en el nivel de precios de estos productos, utilizando como herramienta la elasticidad al precio de la demanda. Para ello, inicialmente se hace una agrupación de las partes de acuerdo con su elasticidad mediante el análisis de conglomerados, obteniendo siete grupos que son caracterizados cuantitativa y cualitativamente. Se determinan los objetivos y políticas de la fijación de precios para estos grupos, permitiendo de esta forma establecer la metodología para la asignación de precios de la compañía. Adicionalmente, en el documento se utiliza la técnica del cálculo del IPC, a fin de determinar el impacto de la variación de precios de cada grupo sobre la variación total. Así, el estudio permite concluir que es posible establecer metodologías claras para la fijación de precios pormedio del uso de la elasticidad al precio de la demanda. Para lograr este objetivo, cuando se cuenta con gran número de productos, es útil el uso de las herramientas proporcionadas por la estadística multivariada, dado que permiten efectuar un mejor análisis de los datos. Además es notorio que el uso de metodologías para el cálculo de índices inflacionarios, es conveniente en la determinación del impacto de las políticas de precios adoptadas Universidad Pedagógica y Tecnológica de Colombia 2012-11-06 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.uptc.edu.co/index.php/cenes/article/view/13 10.19053/01203053.v31.n54.2012.13 Apuntes del Cenes; Volumen 31 N° 54: julio - diciembre de 2012; 9-36 Apuntes del Cenes; Volumen 31 N° 54: julio - diciembre de 2012; 9-36 2256-5779 0120-3053 spa https://revistas.uptc.edu.co/index.php/cenes/article/view/13/13 Copyright (c) 2012 Patricia Paola Guerrero Garzón, Diego Fernando Hernández Losada, Luis Guillermo Díaz Monroy http://creativecommons.org/licenses/by-nc-sa/4.0 |
| spellingShingle | price fixing price elasticity of demand multivariate statistics cluster analysis inflation Laspeyres Index Fijación de precios elasticidad al precio de la demanda estadística multivariada análisis de conglomerados inflación índice tipo Laspeyres (Price fixing price elasticity of demand multivariate statistics cluster) Guerrero-Garzón, Patricia Paola Hernández Losada, Diego Fernando Díaz Monroy, Luis Guillermo Methodology for pricing using price elasticity of demand. Case type: automotive parts sector |
| title | Methodology for pricing using price elasticity of demand. Case type: automotive parts sector |
| title_alt | Metodología para la fijación de precios mediante la utilización de la elasticidad precio-demanda. Caso tipo: repuestos del sector automotor |
| title_full | Methodology for pricing using price elasticity of demand. Case type: automotive parts sector |
| title_fullStr | Methodology for pricing using price elasticity of demand. Case type: automotive parts sector |
| title_full_unstemmed | Methodology for pricing using price elasticity of demand. Case type: automotive parts sector |
| title_short | Methodology for pricing using price elasticity of demand. Case type: automotive parts sector |
| title_sort | methodology for pricing using price elasticity of demand case type automotive parts sector |
| topic | price fixing price elasticity of demand multivariate statistics cluster analysis inflation Laspeyres Index Fijación de precios elasticidad al precio de la demanda estadística multivariada análisis de conglomerados inflación índice tipo Laspeyres (Price fixing price elasticity of demand multivariate statistics cluster) |
| topic_facet | price fixing price elasticity of demand multivariate statistics cluster analysis inflation Laspeyres Index Fijación de precios elasticidad al precio de la demanda estadística multivariada análisis de conglomerados inflación índice tipo Laspeyres (Price fixing price elasticity of demand multivariate statistics cluster) |
| url | https://revistas.uptc.edu.co/index.php/cenes/article/view/13 |
| work_keys_str_mv | AT guerrerogarzonpatriciapaola methodologyforpricingusingpriceelasticityofdemandcasetypeautomotivepartssector AT hernandezlosadadiegofernando methodologyforpricingusingpriceelasticityofdemandcasetypeautomotivepartssector AT diazmonroyluisguillermo methodologyforpricingusingpriceelasticityofdemandcasetypeautomotivepartssector AT guerrerogarzonpatriciapaola metodologiaparalafijaciondepreciosmediantelautilizaciondelaelasticidadpreciodemandacasotiporepuestosdelsectorautomotor AT hernandezlosadadiegofernando metodologiaparalafijaciondepreciosmediantelautilizaciondelaelasticidadpreciodemandacasotiporepuestosdelsectorautomotor AT diazmonroyluisguillermo metodologiaparalafijaciondepreciosmediantelautilizaciondelaelasticidadpreciodemandacasotiporepuestosdelsectorautomotor |
