A Neuro-Fuzzy Pricing Model in Conditions of Market Uncertainty

Abstract

The article proposes a pricing model in the face of uncertainty at an early stage in the product life cycle. The development of new products, products, and design solutions is characterizing by the lack of the necessary amount of value and physical indicators for accurate pricing. At the early stage of the product life cycle, it is possible to operate only with its intended function or consumer properties. The number of statistical data on the demand for such a product on the market is severely limiting due to its novelty. Therefore, data on the results of sales of products with similar characteristics are taking as the initial statistical sample. The model is basing on expert assessment methods and the construction of hybrid neural networks. The analysis of the retrospective data is carried out taking into account the expert’s ideas about the features of the system. The simulation was performing in the MATLAB software environment with the Fuzzy Logic Toolbox expansion pack.