Dynamic Pricing Strategies : The Optimal Prices for Consumers and Channels

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  • ダイナミックプライシングに基づく価格戦略 : 消費者とチャネルの最適価格設定アプローチ
  • ダイナミックプライシング ニ モトズク カカク センリャク : ショウヒシャ ト チャネル ノ サイテキ カカク セッテイ アプローチ

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Abstract

Dynamic pricing has developed as a revenue management scheme in the hotel and airline industries. In the recent digitized society, dynamic pricing has been applied to general consumer goods and services with the spread of online shopping and digital marketing. Price is one of the important marketing elements, known as marketing mix four Ps, but little has been personalized while other Ps i.e. product, place, and promotion have been customized for consumers and sales channels. The objective of the research is to develop dynamic pricing framework which incorporates heterogeneity of existing customers and stores to extend personalization for consumers and channels. The discrete choice model is deployed as basis of framework combined with hierarchical Bayesian statistics, and four framework models are derived dependent on inherent heterogeneity. Also proposed are new pricing strategies, i.e. purchase rate adjustment strategy and price range adjustment strategy, using the optimal prices generated from the framework developed in this research.

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