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این مقاله علمی پژوهشی (ISI) به زبان انگلیسی از نشریه الزویر مربوط به سال ۲۰۲۲ دارای ۱۶ صفحه انگلیسی با فرمت PDF می باشد در ادامه این صفحه لینک دانلود رایگان مقاله انگلیسی و بخشی از ترجمه فارسی مقاله موجود می باشد.
کد محصول: M1321
سال نشر: ۲۰۲۲
نام ناشر (پایگاه داده): الزویر
نام مجله:International Journal of Production Economics
نوع مقاله: علمی پژوهشی (Research articles)
تعداد صفحه انگلیسی: ۱۶ صفحه PDF
عنوان کامل فارسی:
مقاله انگلیسی ۲۰۲۲ : استراتژی قیمت گذاری بهینه:نحوه فروش به مصرف کنندگان استراتژیک
عنوان کامل انگلیسی:
Optimal pricing strategy: How to sell to strategic consumers?
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Abstract
Technological advances are preparing consumers to plan their purchases strategically. Selling to strategic consumers at a fixed price forgoes the profit from salvaging inventory, whereas high-low pricing, as a ubiquitous pricing strategy, is costly due to the offered markdown discount. This research explores the overall impact of consumer’s strategic buying behaviour on a pricing strategy, and identifies conditions where fixed pricing, strategic high pricing, or high-low pricing is the best approach by analytically comparing the profits of the three pricing strategies. Our results show that high-low pricing is appropriate only if the offered markdown discount is relatively small. If strategic consumers have a small population and the needed markdown discount is relatively large, retailers can ignore strategic buying behaviour and sell products at a fixed price. Our results emphasize that the markdown discount for clearance sales and the market structure of heterogeneous consumers play vital roles in determining the optimal pricing strategy.
Keywords: High-low pricing, Fixed pricing, Strategic consumer, Markdown, Newsvendor model
۱.Introduction
Pricing is the most important lever that a retailer pulls. Retailers have spent decades defining pricing strategies. Three prominent pricing strategies are high pricing (e.g. premium pricing, examples include iPhone and Tesla’s flagship products and Herm`es leather goods), low pricing (e.g. everyday low price, examples include Walmart and Trader Joe’s), and high-low pricing (e.g. premium fashion brands includes Michael Kors, Ralph Lauren) emphasize high profit margins, higher sales volume, and both profit margin and sales volume, respectively. Different with high pricing and low pricing, which set a fixed selling price, the price under high-low pricing can alter between “high” and “low” over a selling season. In other words, high-low pricing is a pricing strategy wherein a company initially charges high prices and periodically offers consumers lower prices through promotions or clearances to attract customers in the broader market. The high-low pricing strategy, which was launched in the 1920s, is ubiquitous and has been extensively used in a variety of industries, notably fashion goods and short-life-cycle products, such as Macy’s (retailer), Adidas and Nike (speciality company). Over 75% of sales volumes and 40% percent of products were sold at sale prices (Kaufmann et al., 1994). High-low pricing benefits retailers and yields substantial profits in the following three aspects. First, high-low pricing generates additional sales and reaches price-sensitive consumers through lowered prices since a retailer can adopt price discrimination among consumers who perceive and respond to price sensitivity. Furthermore, markdown (offering lower prices) is profitable when consumers are heterogeneous in valuations and patience (Su, 2007). Second, markdown is an important way to clean up after errors are made in ordering and pricing, such as demand forecasting errors, estimating errors in consumers’ willingness to pay, among others. Finally, as the product’s value may decrease with time, the price should be lowered when the product losses its popularity, otherwise consumers will not be compelled to buy it…
۸.Conclusion
This work studies the optimal pricing strategy of a newsvendor retailer in a market with strategic consumers. Consumers are heterogeneous (strategic, myopic and bargain hunting) and their product valuations are unknown to the retailer. The retailer uses different price discounts to inform consumers about their selling strategy in the product/ brand introduction stage. Our study explores the best selling strategy across different product development stages. We develop a newsvendor framework to investigate the overall effects of strategic buying behaviour on pricing strategies and identify conditions where fixed pricing, strategic high pricing, and high-low pricing are appropriate. We analytically compare the profits of three pricing strategies. We show that high-low pricing is best only if the offered discount is relatively small. Fixed pricing is the best approach only if strategic consumers comprise a small population and the offered discount for high-low pricing is relatively big. Otherwise, strategic high-pricing strategy is best. Numerical investigations further confirm the structural result under multiple settings. Our results imply that the needed markdown discount and the market size of existing strategic consumers play crucial roles in pricing strategy selection…
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