scholarly journals Ticket Sales Prediction and Dynamic Pricing Strategies in Public Transport

2020 ◽  
Vol 4 (4) ◽  
pp. 36
Author(s):  
Francesco Branda ◽  
Fabrizio Marozzo ◽  
Domenico Talia
Keyword(s):  
Public Transport ◽  
Dynamic Pricing ◽  
Low Cost ◽  
Important Change ◽  
Pricing Strategy ◽  
Pricing Strategies ◽  
Long Distance ◽  
Ticket Sales ◽  
Transport Services ◽  
Sales Prediction

In recent years, the demand for collective mobility services registered significant growth. In particular, the long-distance coach market underwent an important change in Europe, since FlixBus adopted a dynamic pricing strategy, providing low-cost transport services and an efficient and fast information system. This paper presents a methodology, called DA4PT (Data Analytics for Public Transport), for discovering the factors that influence travelers in booking and purchasing bus tickets. Starting from a set of 3.23 million user-generated event logs of a bus ticketing platform, the methodology shows the correlation rules between booking factors and purchase of tickets. Such rules are then used to train machine learning models for predicting whether a user will buy or not a ticket. The rules are also used to define various dynamic pricing strategies with the purpose of increasing the number of tickets sales on the platform and the related amount of revenues. The methodology reaches an accuracy of 95% in forecasting the purchase of a ticket and a low variance in results. Exploiting a dynamic pricing strategy, DA4PT is able to increase the number of purchased tickets by 6% and the total revenue by 9% by showing the effectiveness of the proposed approach.

scholarly journals Low Cost Bus Alert System for Visually Challenged People

2019 ◽  
Vol 8 (3) ◽  
pp. 4944-4948
Keyword(s):  
Public Transport ◽  
Low Cost ◽  
Alert System ◽  
Transport Services ◽  
Bus Driver ◽  
The Common ◽  
Common Problems ◽  
Visually Challenged ◽  
Public Transport Services

One of the common problems faced by visually challenged people is their inability to travel alone in public transport services like bus. They have to depend on others to identify the bus at the bus stops. This scenario should be changed. It’s the role of engineers to bring the change in the lives of visually challenged people. A low cost bus alert system for visually challenged people using Radio Frequency (RF) technology is proposed in this paper. Once the appropriate bus arrives near the visually challenged person, he/she will be intimated about the arrival of the bus by an audio message. If the blind person decides to board the bus he can acknowledge the driver by pressing the acknowledgement button in his module. The bus driver will get acknowledged by LED indicator near his cabin. With the help of this project visually challenged commuters can transit without the aid of fellow commuters and their need to depend on others for public transport transit can be reduced

Dynamic pricing of perishable food as a sustainable business model

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Michael Scholz ◽  
Roman-David Kulko
Keyword(s):  
Willingness To Pay ◽  
Food Waste ◽  
Dynamic Pricing ◽  
Pricing Strategy ◽  
Pricing Strategies ◽  
Sustainable Business ◽  
Content Type ◽  
Food Retailers ◽  
Static Pricing ◽  
The Impact

PurposeThe purpose of this paper is to (1) investigate the effect of freshness on consumers' willingness to pay, (2) derive static and dynamic pricing strategies and (3) compare the effect of these pricing strategies on a retailer's revenue and food waste. This investigation helps to reveal the potentials of dynamic pricing strategies for building more sustainable business models.Design/methodology/approachThe authors conduct an online experiment to measure consumers' willingness to pay for fresh and three-days’ old strawberries. The impact of freshness on willingness to pay is analysed using univariate tests and regression analysis. Pricing strategies are compared using a Monte Carlo simulation.FindingsThe results of this study show that freshness largely determines consumers' willingness to pay and price sensitivity. This renders dynamic pricing a promising strategy from an economic point of view. The results of the simulation study show that food waste can be reduced by up to 53.6% with a dynamic pricing instead of a static pricing strategy in the case that there are as many consumers as strawberry packages in the inventory. Revenue can be increased by up to 10% compared to a static pricing strategy based on fresh strawberries.Practical implicationsThis study suggests that food retailers can improve their revenue when switching from static to dynamic pricing. Furthermore, in most cases, food retailers can reduce food waste with a dynamic instead of a static-pricing strategy, which might help to improve their image through a more sustainable business model and attract additional consumers.Originality/valueThis study is the first to analyse the possibility of using food freshness to design a dynamic pricing strategy and to analyse the impact of such a pricing strategy on both, a retailer's revenue and a retailer's food waste.

scholarly journals The competitiveness of the long-distance public transportation system in Slovakia

2013 ◽  
Vol 21 (4) ◽  
pp. 64-75 ◽  
Author(s):  
Marcel Horňák ◽  
Tomáš Pšenka ◽  
František Križan
Keyword(s):  
Financial Institutions ◽  
Public Transport ◽  
Public Transportation ◽  
Political Power ◽  
Transportation System ◽  
Long Distance ◽  
Transport Services ◽  
Public Transportation System ◽  
Potential Customers ◽  
Public Transport Services

Abstract The long-distance public transport services among the eight regional centres of Slovakia, representing the key urban locations with concentrations of most of the country’s services, including business, educational and financial institutions, as well as political power, are examined in this article. It is assumed that the mutual transport interconnections within this group of cities will be a focus for public transport operators in their attempt to gain the largest possible share of potential customers, passengers who would otherwise be users of individual transport means. Hence, one of main aims of this study is to compare public and individual transport modes, and the possibilities offered by them in the mutual interconnections of major regional centres in the country

scholarly journals Optimal Policies for the Pricing and Replenishment of Fashion Apparel considering the Effect of Fashion Level

Complexity ◽  
2019 ◽  
Vol 2019 ◽  
pp. 1-12 ◽  
Author(s):  
Qi Chen ◽  
Qi Xu ◽  
Wenjie Wang
Keyword(s):  
Dynamic Pricing ◽  
Price Policy ◽  
Pricing Strategy ◽  
Sensitivity Analyses ◽  
Pricing Strategies ◽  
System Parameters ◽  
Optimal Dynamic ◽  
Replenishment Cycle ◽  
Fashion Apparel ◽  
Short Product

Fashion apparel, with short product lifecycles and highly volatile demand, requires careful attention during both the initial ordering periods before the selling season and during the selling season, with its decisions regarding price and replenishment. Using Pontryagin’s maximum principle method, this study investigates the problem of the dynamic pricing strategy and replenishment cycle for fashion apparel by considering the effect of fashion level on demand. First, we provide a framework for fashion apparel by formulating a model that includes both price and demand at different fashion levels. We then provide an algorithm to derive the optimal dynamic pricing strategy and replenishment cycle. Numerical examples and sensitivity analyses of the main system parameters are provided to demonstrate the obtained results, which form the basis for managerial insights. It is shown that the apparel retailer has three types of optimal dynamic pricing strategies and that the optimal strategy is independent of the replenishment cycle. The apparel retailer is able to realize the profit advantage of a continuously variable price policy by adjusting the sales price periodically.

scholarly journals Dynamic Pricing under Cost Reduction in the Presence of Myopic and Strategic Consumers

2019 ◽  
Vol 2019 ◽  
pp. 1-15
Author(s):  
Guangning Liu ◽  
Zhenzhong Guan ◽  
Hua Wang
Keyword(s):  
Dynamic Pricing ◽  
Cost Reduction ◽  
Pricing Strategy ◽  
Future Price ◽  
Purchase Decisions ◽  
Pricing Strategies ◽  
Strategic Consumers ◽  
Technology Advancement ◽  
Significant Cost Reduction ◽  
Strategic Waiting

After release, a product usually suffers cost reductions during its whole lifespan. Compared to the myopic, strategic consumers may have stronger incentive to delay the purchase once they perceive that a significant cost reduction will result in a markdown. The strategic (compared to the myopic) properties influence the seller both quantitatively in terms of proportion of strategic consumers and qualitatively in terms of customer patience. To forecast the reaction of the whole market under cost reduction, it is necessary to acquire the strategic properties. In this paper, we study the impacts of proportion of strategic consumers, customer patience, and cost reduction on dynamic pricing strategy when cost reduction comes from technology advancement. The seller makes pricing strategies when facing unknown future cost, and the buyer makes purchase decisions when facing unknown future price. Our study shows that generally both higher strategic consumer proportion and customer patience contribute to a delay in sales. Further, profit diversion happens under great combination of strategic properties. In addition, with the increase of customer patience, not only strategic but also myopic consumers will buy less. Finally, the strategic properties moderate the pricing strategy in latter stage when there is a cost reduction. This indicates a threshold as combination of strategic properties, upon which seller tends to offer a smaller markdown to discourage strategic waiting, and under which seller tends to offer a greater markdown to divert strategic consumers to the latter period.

scholarly journals Evaluation of high-standard public transport centres in the Slovak Republic

2015 ◽  
Vol 30 (30) ◽  
pp. 59-70 ◽  
Author(s):  
Marcel Horňák ◽  
Peter Struhár ◽  
Tomáš Pšenka
Keyword(s):  
Public Transport ◽  
Slovak Republic ◽  
High Standard ◽  
Direct Access ◽  
Long Distance ◽  
The Public ◽  
Transport Services ◽  
Urban Settlements ◽  
The Relationship ◽  
Public Transport Services

Abstract Despite of increasing volumes of individual passenger transport and growing dependence of the post-socialist societies on the passenger car, public transport is still inevitable for certain communities. Its social and environmental aspects are obvious reasons why public transport remains within the scope of state and regional policies as a mixture of public and commercial services. Long-distance and international overground public transport represents a higher standard of travelling of considerably commercial nature. An important feature of this segment of the public transport is its capability to compete with individual transportation for long-distance journeys. The commercial character of the long-distance public transport should motivate operators to run territorially effective links covering adequately populated communites and regions with high demand for this segment of public-transport services. This study deals with several territorial aspects of the network of long-distance and international bus and train links of public transport in the Slovak Republic. The network of communities having direct access to the high-standard modes of public transport has been identified, revealing some of their spatial patterns and focusing on categorization of urban settlements by selected parameters of high-standard public transport services. The relationship with the population size of the urban settlements is assessed in the study, too.

scholarly journals Pelatihan Pendidikan Entrepreneurship Bagi Siswa-Siswi SMAK Frateran: Penentuan Strategi Harga Jual

2021 ◽  
Vol 3 (2) ◽  
Author(s):  
Lenny Gunawan ◽  
Agustiono Agustiono ◽  
Charly Hongdiyanto ◽  
Wendra Hartono
Keyword(s):  
Community Service ◽  
Dynamic Pricing ◽  
Service Industry ◽  
Value Added ◽  
Pricing Strategy ◽  
Pricing Strategies ◽  
Low Order

The purpose of this community service to Frateran Highschool is to increase their understanding towards Determining Pricing Strategy within their businesses. This training is on live discussion via zoom regarding the previous experiences in determining pricing strategy among lecturers, facilitators, and students as participants. These activities were conducted in an hour meeting session on 17th September 2021, as community service from Ciputra lecturers’ activity to SMAK. Frateran Surabaya. The class was attended by 12 out of 15 students registered, grade XII within Entrepreneurship Subject. The pricing strategies matrix consists of 3x3 quadrants, which then divided into 1. Fixed menu Pricing, and 2. Dynamic Pricing. Students also learned about value added within a product, thus lead them into positioning and differentiation for the businesses. The explanation also given by using examples for each method: Traveloka, Gofood, Grabfood (promotional posters & vouchers) to balance out peak and low order times, Ovo (program features in application) increasing customers convenience in adding values, Starbucks (personnel contribution service and behind the scenes operational video). The conclusion, the activity was able to increase students’ understanding of fixed and dynamic pricing strategy, value added within products/services, and finally positioning and differentiation within service industry.

scholarly journals PERSEPSI KENYAMANAN DAN HARGA TERHADAP MINAT PENGGUNAAN JASA TRANSPORTASI ANGKUTAN UMUM KOTA DI KABUPATEN PURWAKARTA

2020 ◽  
Vol 7 (1) ◽  
pp. 16-23
Author(s):  
Ade Nurhayati
Keyword(s):  
Public Transport ◽  
Public Transportation ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Service Users ◽  
Analysis Model ◽  
Long Distance ◽  
Transportation Services ◽  
Transport Services ◽  
The City

Reduced interest in the use of city public transport services because there are still many public transport facilities that do not attach importance to the convenience of service users and the absence of alternative tariff options for long distance or short distance, so service users choose to use other transportation services that can answer their needs, such as transportation online that already exists in Purwakarta today.            In this case the author is very interested in conducting research, with the title "The Influence of Perceptions of Comfort and Price Against Interest in the Use of City Public Transportation Transportation Services in Purwakarta District".            The purpose of this study was to determine the effect of perceived comfort and price on the interest in using the City Public Transport Service in Purwakarta Regency. In this study respondents were users of public transportation services in Purwakarta using sampling techniques called Non-Probability Sampling.            The research method used is descriptive qualitative method, which is a method that is done by collecting, presenting and analyzing data that gives a clear enough picture of the object under study. This study uses a multiple linear regression analysis model with the help of IBM SPSS 21 program.            Hypothesis This study shows that the variables of perceived comfort and price have a positive and significant effect on the interest in using public transportation services in the city of Purwakarta.

scholarly journals The Impact of Congestion on the Costs of Public Transport in Starogard Gdański

2019 ◽  
Vol 84 ◽  
pp. 7-18
Author(s):  
Marek Gierszewski ◽  
Aleksandra Koźlak
Keyword(s):  
Fuel Consumption ◽  
Public Transport ◽  
Traffic Congestion ◽  
Negative Impact ◽  
Urban Transport ◽  
Ticket Sales ◽  
Transport Services ◽  
Opt Out ◽  
High Level ◽  
The Impact

Congestion in the urban transport network is common not only in large agglomerations, but also in medium-sized cities in all countries that are characterized by a high level of socio-economic development. Traffic congestion has negative impact on economic, social, and environment development. The costs of congestion are borne by all users of the transport system, both drivers, passengers, entities providing transport services, as well as enterprises using freight transport services. The purpose of the article is to discuss the results of the study on the impact of congestion on the costs of public transport in a medium-sized city. The research method consisted in the analysis of vehicle road cards, fuel consumption statements for buses belonging to the Municipal Transport Company in Starogard Gdański and the examination of real bus travel times and the scale of delays caused by congestion on individual lines. The analysis of the data shows that thecompany bears much higher costs of fuel consumption, and passengers are exposed to bus arrivals and departures inconsistently with the timetable, prompting them to opt out of public transport services. This results in lower revenues from ticket sales and deterioration of the company’s financial result.

scholarly journals Planning and designing infrastructure and services for sustainable bicycle tourism along the EuroVelo routes in the Danube region

2021 ◽  
Author(s):  
Paul Pfaffenbichler ◽  
Joachim Gauster ◽  
Lukas Hartwig ◽  
Michael Meschik
Keyword(s):  
Public Transport ◽  
Assessment Tool ◽  
Sustainable Tourism ◽  
Air Travel ◽  
Strategy Development ◽  
Low Carbon ◽  
Sustainable Mobility ◽  
Long Distance ◽  
Transport Services ◽  
Danube Region

Before the Covid-19 pandemic air travel was growing steeply and “flight shame” became one of the catch phrases of the climate crisis. Too often urban citizens undermined eco-friendly workday mobility with long-distance holiday air travel. The arrival of the Covid-19 pandemic posed new challenges. The recreational needs had to be satisfied by domestic tourism closer to home. There is a need for innovative sustainable tourism products and concepts to respond to both of these trends. Bicycle tourism combined with public transport for destination access and egress is a promising candidate for low carbon and regional tourism concepts. The Danube region is among the most important European cycle tourism destinations. A long stretch of the EuroVelo route 6 follows the river Danube, other EuroVelo routes cross the region. The European Interreg-project EcoVeloTour combines three main elements to support new sustainable tourism concepts in this corridor: ecotourism, use of public transport to access the destination or starting and final points of cycle tours and cycling within the destination region. Key elements of the EcoVeloTour approach are sustainable mobility and ecotourism guidelines. The guidelines utilize synergies between sustainable multimodal mobility planning, including cycling infrastructure, and cyclist ecotourism related services and ecotourism development (e.g. destination management, marketing, product development) along the EuroVelo routes. The guidelines for sustainable bicycle tourism provide a comprehensive basis for planning and improving all relevant mobility-related infrastructure and services. The chapter “Infrastructure for high-level bicycle tourism” deals with relevant road infrastructure elements like different types of tracks, intersections and roundabouts, route signposting, bicycle parking, shelters for cyclists, lighting and maintenance. The chapter “Transport services and intermodality” addresses public transport use for transfers to origin and from final destination of bicycle tours. It describes infrastructure, information and services needed at intermodal nodes. Regional bicycle tourism strategies and pilot projects are elaborated based on the EcoVeloTour guidelines. An interactive self-assessment tool to support strategy development and pilot actions of the regions was developed and tested in transnational learning interactions.

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