OBTAINING OPTIMAL PRICING STRATEGY IN A SERVICE ENGAGEMENT
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United States of America Patent
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Issued Date -
Apr 16, 2015
app pub date -
Oct 15, 2014
filing date -
Oct 15, 2013
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Abstract
Systems and methods for obtaining an optimal pricing strategy in a service engagement are disclosed. A model is created for the service engagement between a client and vendor. For the service engagement, a pricing strategy is selected. The pricing strategy is selected from one of a fixed strategy, a variable strategy and a combination thereof. Subsequent to selecting the pricing strategy, a client payoff associated with the client and a vendor payoff associated with the vendor are computed. The model is simulated to obtain a time series data. Based on the simulation, an optimal pricing strategy is obtained by calculating an optimizer payoff function. The optimizer payoff function is calculated by assigning relative weights to the client payoff and the vendor payoff. The optimal pricing strategy is obtained by altering the pricing strategy to maximize the optimizer payoff function.
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