Retail price calculation mathematical model with correction of the forecast of demand for goods

There are differentiated and broadened in process of every retail chain development range of goods, shops etc. This makes necessary to increase sales and profit, improve stock management efficiency, use different automatic retail price assessment and based on specific algorithms demand forecasting instruments. These specific algorithms should consider range of factors such as planning numbers, demand elasticity, different marketing actions and many others. The article describes retail prices assessment algorithm and mathematical model, which consider the factors mentioned above and beside allow to review demand forecasts considering price changes.