| Summary: | The use of goal programming in various real-world areas - including resource allocation,
engineering, agriculture and other applications - has increased a lot in the past few years.
The aim of this dissertation is to investigate goal programming approaches in determining
prices. Various aspects of price determination - such as cosls, existing prices, competitors'
prices, volume change due to price change and other aspects are incorporated in the
model in order to suggest reasonable and realistic prices. Taking just these factors into
account will not completely solve the problem, as there are usually certain goals that the
decision maker would like to achieve. For example, the decision maker would probably like
to attain an acceptable pre-specified minimum profit level without adjusting current prices
too much whilst keeping prices competitive to insure that customers are not lost in the
process of change. In this study, a goal programming model is developed for the
determining of products' prices with consideration of these goals. The model makes
provision for the change in demand due to the change in prices. === Mini-dissertation (M.Com. (Computer Science))--North-West University, Potchefstroom Campus, 2007.
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