Research On New Product Pricing Strategies By Considering Online Reviews

In the retail market,more and more consumers choose online channels to buy products,and the online consumer group is growing.In a networked environment,consumers can communicate and evaluate the quality of their products.Online reviews reflect the use of the product and are consumers’ feedback on product quality information.Online reviews have become an important basis for consumers to make purchasing decisions.Dual-channel retailers use online reviews to understand consumer purchase information and adjust sales prices across online and offline channels in a timely manner.Manufacturers are informed of market demand trends through online reviews and are considering opening up online direct sales channels.Online reviews provide valuable information that has an important impact on consumers and supply chain members.Especially for new products,consumers will rely more on product reviews made by consumers in the early stage,and supply chain members will adjust the sales strategy of new products in time based on online reviews.In order to cater to consumers’ purchasing habits,manufacturers launch new products through both online and offline channels of retailers,and also participate in new product sales by opening up online channels.In the process of selling new products,supply chain members need to adjust the sales price in time according to market feedback to obtain more profits.Consumer online reviews formed after the release of new products have become an important symbol of market feedback,so considering the pricing strategy of online reviews has become an important research content of new product sales.In order to solve the problem of pricing decisions in the early and late stages of new product sales,this paper divides the pricing of new products into two stages: in the first stage,supply chain members formulate a unified offering price based on basic information such as potential market demand;In the second phase,supply chain members adopt differential pricing strategies that take into account online reviews in due course.At the same time,in order to explore the impact of manufacturers opening up online channels on the supply chain,this paper divides new product launches into three situations: retailers release new products,manufacturers and retailers release new products at the same time,retailers sell new products first,and manufacturers join later.Aiming at the pricing problem of new products under the three sales conditions,this paper establishes a correlation model to solve the optimal pricing decisions in the early and late stages of new product sales.In order to maximize the total profit of the supply chain,the profit under centralized decision-making is compared with that under decentralized decision-making.When the supply chain has a double marginal effect,design the corresponding supply chain coordination mechanism.Finally,the coordinated supply chain profit is analyzed,the effect of differential pricing strategy considering online review is explored,and the relevant research results are verified by numerical analysis.It is found that:(1)The total profit of the supply chain under the three types of new products is realized under centralized decision-making.In the supply chain coordination contract,the retailer needs to compensate a part of the profit to the manufacturer,and the manufacturer needs to wholesale the new product to the retailer at a lower price;When manufacturers open up online channels,manufacturers need to set different wholesale prices for retailers offline and online channels.(2)When online reviews and consumer purchasing habits meet certain conditions,the differential pricing effect of considering online reviews is better.When retailers launch new products,supply chain margins are higher when the proportion of online consumers is higher and online reviews are higher.When retailers and manufacturers release new products at the same time and successively,supply chain profits are higher when the proportion of online consumers is high and consumer acceptance of manufacturers’ channels is high.(3)The profits compensated by retailers to manufacturers under differential pricing are affected by consumers’ purchasing habits.When retailers launch new products,the revenue sharing ratio under differential pricing first increases and then decreases with the proportion of online consumers.When retailers and manufacturers launch new products at the same time and on a successive basis,the fixed fee under differential pricing decreases with the proportion of online consumers and consumer acceptance of manufacturers.When manufacturers participate in the sale of new products,manufacturers can increase profits through their own online channels and reduce their dependence on retailers’ profit compensation.