NEURAL NETWORK TO RECOGNIZE THE MARKET VALUE OF THE PRODUCT FOR CUSTOMERS

Abstract

This paper analyzes the possibilities of application of artificial neural networks in discovering preferences of consumer into buying products according to their socio-demographic and economic characteristics. The objective of this paper is to improve customer satisfaction on product’s and the revenues of the organizational system. Data set is the result of preprocessing activity followed by getting the fulfilled surveys from respondents. In the survey are the questions about the socio-demographic characteristics of the customers: gender, age, education and household revenues. The artificial neural networks technique has been applied to classify the products according to the quality, taste, color of the packaging, shape of packaging, price and impression of less chemicals depending on the socio-demographic characteristics of the customers. Artificial neural networks assign the adequate product type to the customers and so help to discover their preferences, satisfaction and recognize the market value of the product for customers. Artificial neural network is built using R language which has shown satisfactory development strength and power.