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Research On Dynamic Pricing Strategy Of Perishable Goods For Mixed Consumers

Posted on:2018-06-06Degree:MasterType:Thesis
Country:ChinaCandidate:W HuangFull Text:PDF
GTID:2359330536468964Subject:Management Science and Engineering
Abstract/Summary:PDF Full Text Request
The perishable goods have characteristics of short life cycle,prices fast speed,large market demand uncertainty and the final salvage value.With the development of science and technology,product replacement faster and faster,more products have the characteristics of perishable,therefore,the firms face the challenge how to set prices to improve the revenue of perishable goods.Dynamic pricing is an important way to solve the pricing of perishable goods.With the continuous development of computer level,dynamic pricing has been widely developed and applied.There are many factors that affect dynamic pricing which led to the complexity of dynamic pricing,and consumer behavior has always been the focus of research and hot spots.Information is more and more symmetrical,diversity and transparency.So consumers are becoming "smarter",they have the strategic behavior.They will weigh the different stages of utility to wait for the best time to make a purchase decision.So the market are short-sighted and strategic behavior coexistence of mixed consumer groups.The proportion of consumers with strategic behavior is increasing.And this strategic behavior brings negative impacts on the firms.Therefore,this paper puts forward that the problem of dynamic pricing of perishable goods for mixed consumers is of great significance both in theory and practice.Based on the research of dynamic pricing of perishable goods,this paper uses the idea of game theory and expected utility theory to establish dynamic pricing model in monopoly and competition environment,and use dynamic programming method to solve the optimal price strategy.Considering consumer's risk preference behavior in monopoly environment,this paper studies the impact of mixed consumers' risk preference on pricing strategy and firm's profitability.Then,the introduction of the differential return policy to deal with consumer strategic behavior,contrasting analysis of the differential return policy of the impact on pricing of firm.Taking into account the quality of service in competitive environment and studying the impact of mixed consumers' consideration of the service quality on pricing and revenue of firm.Get the following conclusions:(1)In monopoly environment,consumer strategic behavior reduce price and the overall benefits of the firm.It has negative impact on the firm.While risk-loving behavior reinforces the adverse effects and risk aversion behavior weakening the adverse effects.In addition,the increase in inventory and the second stage of the consumer valuation variables has increased the impact of consumer strategic behavior and risk preference on the firm And the inventory and consumer valuation variables reinforce the impact of consumer's strategic behavior and risk preference on the firm.Assuming that all of the market are short-sighted consumers,risk preference,valuation variants and inventory have no effect on pricing and profitability of firm.(2)There is a risk in the implementation of the differential return policy in the monopoly environment.The firm must carefully consider the proportion of strategic consumers,the second stage of the consumer valuation variables and inventory factors,and then make a reasonable decision to make the firm profitable,otherwise the firm will suffer losses.(3)In competitive environment,consumer's strategic behaviors make firms pricing and profit decline,it has a negative impact on the firms,and the valuation factors reinforce the adverse effects of strategic behavior on firms.Improving the quality of the first phase of the service quality level makes the firms of prices and profits are rising.Consumers are more sensitive to the service quality level,firms improve the quality of service the more effective,firms can get more revenue.So the strong firm can be achieved through the use of service quality to get rid of price war and get more profit.But the quality of service is not the higher the better,but will make profits decline to a certain extent.Improve the cost of the second phase of the product quality of service is too high.It is not conducive to firm competition.
Keywords/Search Tags:Dynamic pricing, Mixed consumers, Risk preference behavior, Differential return policy, Service quality
PDF Full Text Request
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