Simultaneously setting Prices for multiple Products is complicated by same-store cannibalization. This workflow shows how to set Prices for the 'Good' Product, the 'Better' Product, and the 'Best' Product in a way that maximizes total Profitability for the store.
Uses the KNIME Extension: Market Simulation by Scientific Strategy - Community Edition
A comprehensive description of this workflow with step-by-step instructions can be found at the Scientific Strategy website:
https://scientificstrategy.com/ms-151/
Workflow
[Market Simulation] MS-151 Good-Better-Best Product Pricing
External resources
Used extensions & nodes
Created with KNIME Analytics Platform version 4.3.0
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KNIME AG, Zurich, Switzerland
Versions 3.5.3, 4.3.0
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Decision Ready, LLC
Version 4.3.0
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