Patent attributes
A system, method and computer program product for providing the ability for retailers to devise a current channel strategy (e.g., adaptive price setting) that considers competitors in a dynamic competing environment, and that enables computing a competitive advantage of a channel. To estimate a price for selling a product j in a commerce channel comprises: a) receiving, at a processor device, real market data including sales and price history data of a product j sold by one or more retailers over one or alternate sales channels t; generating, by the processor device, a competitive advantage parameter value based on the sales and price history data; and, computing, utilizing the competitive advantage parameter value, an optimum price for a particular product to be marketed in one of the one or alternate sales channel.
