Research On Two Period Pricing Decision Of Perishable Products Considering Difference Of Customer Behavior And Valuation Discount

Perishable product refers to the products with characteristics of perishability and short life cycle,including milk,bread,vegetables and fruits,and so on.Besides,the market demand uncertainty of these products is large,while the salvage value is quite low.Based on the characteristics of perishable products,retailers usually need to decide the order quantity before the selling season,and adjust selling price according to the market demand to attract more customers to buy to increase revenue.At the same time,customers can obtain product information more easily and comprehensively through Internet.They observe retailer's historical pricing strategy,and compare the expected utility when they buy in different period,then maximize their utility to decide the optimal purchase time.These customer's strategic behavior increase the difficulty of retailer's pricing decision.So research on dynamic pricing of perishable products considering strategic behavior has a certain theoretical and practical significance.The dissertation assumes that the monopoly retailer only sell one kind of products,and customers have same valuation on fresh products,and their valuation on products will decrease with time.We construct retailer's two period pricing model based on these assumptions,and conclude retailer's optimal pricing and ordering policy in difference situation.The results show that: First,when customer's valuation is fixed,when the ratio of number of customers who enter in the first period and the average patient customers entering in the second period is larger than a certain threshold,and valuation discount coefficient of strategic customer is low,retailer should implement the “high price in-lower discounted price sale” strategy.When valuation discount coefficient of strategic customer is high,retailer should implement “high price in-higher discounted price sale” strategy.While if the ratio is smaller,the retailer's pricing strategy is affected by the size of ratio of strategic customer and product availability of second period.Second,when the ratio of myopic customer is larger,there exists a threshold,if the probability of high valuation customer is larger than the threshold,the retailer should charge high price in the first period,otherwise,the retailer should charge low price in the first period.And the ratio of number of customers who enter in the first period and the average number of patient customers entering in the market in the second period will influence the optimal pricing strategy of second period.