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Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand

Received: 24 July 2014     Accepted: 31 July 2014     Published: 10 August 2014
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Abstract

It mainly focuses the consumer strategy behavior effect on retailers pricing mechanism. Under the condition of uncertainty demand, consumers’ strategy behavior influence to price and profit. By introducing a discount factor, considering inventory timely complement and fixed inventory in two cases, obtains purchase decision and dynamic pricing strategies of consumers.

Published in Journal of Finance and Accounting (Volume 2, Issue 4)
DOI 10.11648/j.jfa.20140204.11
Page(s) 90-94
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2014. Published by Science Publishing Group

Keywords

Consumer Strategy, Perishable Products, Dynamic Pricing, Inventory

References
[1] You P. S, Chen T C. “Dynamic pricing of seasonal goods with spot and forward purchase demands”, Computers and Mathematics with Applications, vol.54,pp490-498, 2007.
[2] Ringbom S. Shy O., “Refunds and collusion in service industries”, Journal of Economics and Business, pp. vol.60,pp. 502-516, Jun.2008.
[3] Cachon G P, Swinney R. Purchasing, “Pricing, and Quick Response in the Presence of Strategic Consumers”, Management Science, vol.55, pp. 497-511, Mar.2009a.
[4] Elmaghraby W, Keskinocak P., “Dynamic Pricing in the Presence of Inventory Considerations: Research Overview, Current Practices, and Future Directions”, Management Science, vol.49, pp.1287-1309, Oct.2003,
[5] Zhou Y, Fan M, Cho M., “On the threshold purchasing behavior of customers facing dynamically priced perishable products”, Presentation at Informs Pittsburgh National Meeting, Nov 2006.
[6] Aviv Y, Pazgal A., “Optimal Pricing of Seasonal Products in the Presence of Forward-Looking Consumers”, Manufacturing & Service Operations Management, vol.1,pp.1-21, April 2008.
[7] Peng Zhiqiang, Xiong Zhongkai, Li Hao, “The service provider pricing strategy based on customer pricing model”, Statistics & Decision, vol.273, No.21, pp.169-171, Nov. 2008.
[8] Peng Zhiqiang, Xiong Zhongkai, Li Hao, “Research on Discrimination Pricing Model Based on Remanfacturing and Waiting Behaviour of Customers”, Soft Science, vol.23,pp.123-126, March 2009a.
Cite This Article
  • APA Style

    Li Zhou, Jing Li. (2014). Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand. Journal of Finance and Accounting, 2(4), 90-94. https://doi.org/10.11648/j.jfa.20140204.11

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    ACS Style

    Li Zhou; Jing Li. Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand. J. Finance Account. 2014, 2(4), 90-94. doi: 10.11648/j.jfa.20140204.11

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    AMA Style

    Li Zhou, Jing Li. Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand. J Finance Account. 2014;2(4):90-94. doi: 10.11648/j.jfa.20140204.11

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  • @article{10.11648/j.jfa.20140204.11,
      author = {Li Zhou and Jing Li},
      title = {Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand},
      journal = {Journal of Finance and Accounting},
      volume = {2},
      number = {4},
      pages = {90-94},
      doi = {10.11648/j.jfa.20140204.11},
      url = {https://doi.org/10.11648/j.jfa.20140204.11},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jfa.20140204.11},
      abstract = {It mainly focuses the consumer strategy behavior effect on retailers pricing mechanism. Under the condition of uncertainty demand, consumers’ strategy behavior influence to price and profit. By introducing a discount factor, considering inventory timely complement and fixed inventory in two cases, obtains purchase decision and dynamic pricing strategies of consumers.},
     year = {2014}
    }
    

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    T1  - Research on Dynamic Pricing of Perishable Products under Uncertain Consumer Demand
    AU  - Li Zhou
    AU  - Jing Li
    Y1  - 2014/08/10
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    T2  - Journal of Finance and Accounting
    JF  - Journal of Finance and Accounting
    JO  - Journal of Finance and Accounting
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    AB  - It mainly focuses the consumer strategy behavior effect on retailers pricing mechanism. Under the condition of uncertainty demand, consumers’ strategy behavior influence to price and profit. By introducing a discount factor, considering inventory timely complement and fixed inventory in two cases, obtains purchase decision and dynamic pricing strategies of consumers.
    VL  - 2
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    ER  - 

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Author Information
  • School of Information, Beijing Wuzi University, Beijing, China

  • Graduate department, Beijing Wuzi University, Beijing, China

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