Research on Durable Consumer Goods Manufacturer's Pricing Decision

Yun Jing Gao; Lin Lin Zhou; Hui Huang Pi

doi:10.4028/www.scientific.net/AMM.687-691.4823

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HomeApplied Mechanics and MaterialsApplied Mechanics and Materials Vols. 687-691Research on Durable Consumer Goods Manufacturer's...

Research on Durable Consumer Goods Manufacturer's Pricing Decision

Abstract:

The pricing decision of consumer goods manufacturing enterprise is a very important part in its business strategies. Price of the product is directly related to the ability to obtain the expected earnings. In this paper, based on the analysis of the characteristics of durable consumer goods and the factors that affect the price, considering the continuous product innovation and diversification of consumer demand, psychological factors of consumers, as well as the price timeliness, starting from the quantitative point of view, a dynamic pricing model of durable consumer goods aimed at the maximum value of products was set up. Finally, a numerical example solving by the genetic algorithm was given to verify the feasibility of the model.

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Periodical:

Applied Mechanics and Materials (Volumes 687-691)

Pages:

4823-4827

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.687-691.4823

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Online since:

November 2014

Authors:

Yun Jing Gao*, Lin Lin Zhou, Hui Huang Pi

Keywords:

Durable Consumer Goods, Dynamic Model, Genetic Algorithm (GA), Pricing

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* - Corresponding Author

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