Stokla bağlantılı maliyetler ve referans etkisiyle en iyi fiyatlandırma politikası
Yıl 2017,
Cilt: 23 Sayı: 4, 451 - 461, 18.08.2017
Mehmet Güray Güler
,
Mustafa Akan
İsmail Sevim
Öz
Bu çalışmada sezon başlamadan belirli miktarda ürün alan bir satıcının problemi ele alınmaktadır. Elde stok tutmanın bir maliyeti bulunmakla beraber talep mevcut fiyata ve referans fiyata bağlıdır. Referans fiyat müşteriler tarafından oluşturulmakta ve mevcut fiyatın miktarının ölçülmesi için kullanılmaktadır. Satıcının amacı kendi iskonto edilmiş karını eniyilemektir. Problem, en iyi fiyatlandırma politikasını bulmak üzere optimal kontrol problemi olarak modellenmiştir. Genel talep modelleri için, stok miktarındaki artışın sebep olduğu marjinal maliyet ve referans fiyatın artışının neden olduğu marjinal gelir miktarları analitik olarak sunulmuştur. Doğrusal talep modelleri için ise optimal fiyatlandırma stratejisi analitik olarak bulunmuş ve üç aşamalı olarak bulunan yapı açık bir şekilde sunulmuştur: İlk aşamadaki kaymağını alma veya nüfuz (penetrasyon) stratejisinden sonra optimal fiyat zamanla artmakta, ve satış sezonu bir indirim ile bitmektedir. Ürünün maliyetleri üzerine eklenen bir prim olarak tanımlanan indirgenmiş fiyatın tanımlanmasıyla, ikinci evredeki fiyat artışının ürünlerin satın alım ve elde tutma maliyetlerinden kaynaklandığı gösterilmiştir. Optimal fiyatın talep ve maliyet parametrelerine olan duyarlılığı ise sayısal çalışmalar ile gösterilmiştir.
Kaynakça
- Kalyanaram G, Winer RS. “Empirical generalizations from reference price research”. Marketing Science, 14(3), 161-169, 1995.
- Federgruen A, Heching A. “Combined pricing and inventory control under uncertainty”. Operations Research, 47(3), 454-475, 1999.
- Chen X, Simchi-Levi D. “Coordinating inventory control and pricing strategies with random demand and fixed ordering cost: The finite horizon case”. Operations Research, 52(6), 887-896, 2004.
- Chen X, Simchi-Levi D. “Coordinating inventory control and pricing strategies with random demand and fixed ordering cost: The finite horizon case”. Mathematics of Operations Research, 29(3), 698-723, 2004.
- Huh WT, Janakiraman G, “(s,S) optimality in joint inventory-pricing control: An alternate approach”, Operations Research, 56(3), 783-790, 2008.
- Elmaghraby W, Keskinocak P. “Dynamic pricing in the presence of inventory considerations: Research overview, current practices, and future directions”. Management Science, 49(10), 1287-1309, 2003.
- Chen X, Simchi-Levi D. Pricing and Inventory Management. Handbook of Pricing Management, Oxford, United Kingdom, Oxford University Press, 2012.
- Helson M. Adaptation Level Theory. New York, USA, Harper and Row, 1964.
- Monroe KB. “Buyers' subjective perceptions of price”. Journal of Marketing Research, 10, 70-80, 1973.
- Nerlove M. “Adaptive expectations and cobweb phenomena”. Quarterly Journal of Economics, 72, 227- 240, 1958.
- Nasiry J, Popescu I. “Dynamic pricing with loss-averse consumers and peak-end anchoring”. Operations Research, 59(6), 1361-1368, 2011.
Mazumdar T, Raj SP, Sinha I. “Reference price research: Review and propositions”. Journal of Marketing, 69(4), 84-102, 2005.
- Arslan H, Kachani S. Dynamic Pricing Under Consumer Reference‐Price Effects. Editors: Cochran JJ, Cox LA, Keskinocak P, Kharoufeh JP, Smith JC. Wiley Encyclopedia of Operations Research and Management Science, 1-8, Hoboken, NJ, USA, Wiley, 2011.
- Fibich G, Gavious A, Lowengart O. “Explicit solutions of optimization models and differential games with nonsmooth (asymmetric) reference-price effects”. Operations Research, 51(5), 721-734, 2003.
- Popescu I, Wu Y. “Dynamic pricing strategies with reference effects”. Operations Research, 55(3), 413-429, 2007.
- Gimple-Heersink L, Rudloff C, Fleischmann M, Taudes A. “Integrating pricing and inventory control: is it worth the effort?”. BuR Business Research Journal, 1(1), 106-123, 2008.
- Zhang Y. Essays on Robust Optimization, Integrated Inventory and Pricing, and Reference Price Effect. PhD Thesis, University of Illinois at Urbana-Champaign, Illinois, USA, 2010.
- Chen X, Hu P, Shum S, Zhang Y. “Stochastic inventory models with reference price effects”. Working Paper.
- Taudes A, Rudloff C. “Integrating inventory control and a price change in the presence of reference price effects: A two-period model”. Mathematical Methods of Operations Research, 75(1), 1-37, 2012.
- Guler MG, Bilgic T, Gullu R. “Joint inventory and pricing decisions with reference effects”. IEE Transactions, 46(4), 330-343, 2014.
- Guler MG, Bilgic T, Gullu R. “Joint pricing and inventory control for additive demand models with reference effects”. Annals of Operations Research, 226(1), 255-276, 2015.
- Xue M, Tang W, Zhang J. “Optimal dynamic pricing for deteriorating items with reference-price effects”. International Journal of Systems Science, 47(9), 1-10, 2014.
- Urban TL. “Coordinating pricing and inventory decisions under reference price effects”. International Journal of Manufacturing Technology and Management, 13(1), 78- 94, 2008.
- Baron O, Hu M, Najafi-Asadolahi S, Qian Q. “Newsvendor selling to loss-averse consumers with stochastic reference points”. Manufacturing & Service Operations Management, 17(4), 456-469, 2015.
- Bi W, Li G, Liu M. “Dynamic pricing with stochastic reference effects based on a finite memory window”. International Journal of Production Research, 55(12), 1- 18, 2017.
- Wu LB, Wu D. “Dynamic pricing and risk analytics under competition and stochastic reference price effects”. IEEE Transactions on Industrial Informatics, 12(3), 1282-1293, 2016.
- He Y, Xu Q, Xu B, Wu P. “Supply chain coordination in quality improvement with reference effects”. Journal of the Operational Research Society, 67(9), 1158-1168, 2016.
- Lin Z. “Price promotion with reference price effects in supply chain”. Transportation Research Part E: Logistics and Transportation Review, 85, 52-68, 2016.
- Lu L, Gou Q, Tang Q, Zhang J. “Joint pricing and advertising strategy with reference price effect”. International Journal of Production Research, 54(17), 1- 21, 2016.
- Zhang Q, Zhang J, Tang W. “A dynamic advertising model with reference price effect”. RAIRO-Operations Research, 49(4), 669-688, 2015.
- Dye CY, Yang CT. “Optimal dynamic pricing and preservation technology investment for deteriorating products with reference price effects”. Omega, 15, 60-85, 1996.
- Kopalle PK, Rao AG, Assuncao JL. “Assymmetric reference price effects and dynamic pricing policies”. Marketing Science, 15(1), 60-85, 1996.
- Greenleaf EA. “The impact of reference price effect on the profitability of price promotions”. Marketing Science, 14(1), 82-104, 1995.
Optimal pricing policy with inventory related costs and reference effects
Yıl 2017,
Cilt: 23 Sayı: 4, 451 - 461, 18.08.2017
Mehmet Güray Güler
,
Mustafa Akan
İsmail Sevim
Öz
This paper addresses the problem of a retailer who buys a certain amount of inventory at the start of a selling season. Holding inventory is costly and the demand is dependent on the current price and the reference price. The reference price is developed by customers and acts as a benchmark against the current price. The aim of the retailer is to maximize its discounted profit. The problem is modeled as an optimal control problem to determine the optimal pricing policy. For general demand models, the marginal cost due to an increase in the inventory and the marginal gain due to an increase in the reference price are provided analytically. For the linear demand models, the optimal pricing strategy is given explicitly and shown to be characterized by three stages: After a penetration or a skimming pricing strategy at the initial stage, the optimal price increases with time and the season ends with a discount. By introducing the reduced price which is the premium over the cost of the products, it is shown that the existence of procurement and holding cost is the driver for the increase in the price during the intermediary stage. The sensitivity of the optimal price to demand and cost parameters is also provided with a numerical study.
Kaynakça
- Kalyanaram G, Winer RS. “Empirical generalizations from reference price research”. Marketing Science, 14(3), 161-169, 1995.
- Federgruen A, Heching A. “Combined pricing and inventory control under uncertainty”. Operations Research, 47(3), 454-475, 1999.
- Chen X, Simchi-Levi D. “Coordinating inventory control and pricing strategies with random demand and fixed ordering cost: The finite horizon case”. Operations Research, 52(6), 887-896, 2004.
- Chen X, Simchi-Levi D. “Coordinating inventory control and pricing strategies with random demand and fixed ordering cost: The finite horizon case”. Mathematics of Operations Research, 29(3), 698-723, 2004.
- Huh WT, Janakiraman G, “(s,S) optimality in joint inventory-pricing control: An alternate approach”, Operations Research, 56(3), 783-790, 2008.
- Elmaghraby W, Keskinocak P. “Dynamic pricing in the presence of inventory considerations: Research overview, current practices, and future directions”. Management Science, 49(10), 1287-1309, 2003.
- Chen X, Simchi-Levi D. Pricing and Inventory Management. Handbook of Pricing Management, Oxford, United Kingdom, Oxford University Press, 2012.
- Helson M. Adaptation Level Theory. New York, USA, Harper and Row, 1964.
- Monroe KB. “Buyers' subjective perceptions of price”. Journal of Marketing Research, 10, 70-80, 1973.
- Nerlove M. “Adaptive expectations and cobweb phenomena”. Quarterly Journal of Economics, 72, 227- 240, 1958.
- Nasiry J, Popescu I. “Dynamic pricing with loss-averse consumers and peak-end anchoring”. Operations Research, 59(6), 1361-1368, 2011.
Mazumdar T, Raj SP, Sinha I. “Reference price research: Review and propositions”. Journal of Marketing, 69(4), 84-102, 2005.
- Arslan H, Kachani S. Dynamic Pricing Under Consumer Reference‐Price Effects. Editors: Cochran JJ, Cox LA, Keskinocak P, Kharoufeh JP, Smith JC. Wiley Encyclopedia of Operations Research and Management Science, 1-8, Hoboken, NJ, USA, Wiley, 2011.
- Fibich G, Gavious A, Lowengart O. “Explicit solutions of optimization models and differential games with nonsmooth (asymmetric) reference-price effects”. Operations Research, 51(5), 721-734, 2003.
- Popescu I, Wu Y. “Dynamic pricing strategies with reference effects”. Operations Research, 55(3), 413-429, 2007.
- Gimple-Heersink L, Rudloff C, Fleischmann M, Taudes A. “Integrating pricing and inventory control: is it worth the effort?”. BuR Business Research Journal, 1(1), 106-123, 2008.
- Zhang Y. Essays on Robust Optimization, Integrated Inventory and Pricing, and Reference Price Effect. PhD Thesis, University of Illinois at Urbana-Champaign, Illinois, USA, 2010.
- Chen X, Hu P, Shum S, Zhang Y. “Stochastic inventory models with reference price effects”. Working Paper.
- Taudes A, Rudloff C. “Integrating inventory control and a price change in the presence of reference price effects: A two-period model”. Mathematical Methods of Operations Research, 75(1), 1-37, 2012.
- Guler MG, Bilgic T, Gullu R. “Joint inventory and pricing decisions with reference effects”. IEE Transactions, 46(4), 330-343, 2014.
- Guler MG, Bilgic T, Gullu R. “Joint pricing and inventory control for additive demand models with reference effects”. Annals of Operations Research, 226(1), 255-276, 2015.
- Xue M, Tang W, Zhang J. “Optimal dynamic pricing for deteriorating items with reference-price effects”. International Journal of Systems Science, 47(9), 1-10, 2014.
- Urban TL. “Coordinating pricing and inventory decisions under reference price effects”. International Journal of Manufacturing Technology and Management, 13(1), 78- 94, 2008.
- Baron O, Hu M, Najafi-Asadolahi S, Qian Q. “Newsvendor selling to loss-averse consumers with stochastic reference points”. Manufacturing & Service Operations Management, 17(4), 456-469, 2015.
- Bi W, Li G, Liu M. “Dynamic pricing with stochastic reference effects based on a finite memory window”. International Journal of Production Research, 55(12), 1- 18, 2017.
- Wu LB, Wu D. “Dynamic pricing and risk analytics under competition and stochastic reference price effects”. IEEE Transactions on Industrial Informatics, 12(3), 1282-1293, 2016.
- He Y, Xu Q, Xu B, Wu P. “Supply chain coordination in quality improvement with reference effects”. Journal of the Operational Research Society, 67(9), 1158-1168, 2016.
- Lin Z. “Price promotion with reference price effects in supply chain”. Transportation Research Part E: Logistics and Transportation Review, 85, 52-68, 2016.
- Lu L, Gou Q, Tang Q, Zhang J. “Joint pricing and advertising strategy with reference price effect”. International Journal of Production Research, 54(17), 1- 21, 2016.
- Zhang Q, Zhang J, Tang W. “A dynamic advertising model with reference price effect”. RAIRO-Operations Research, 49(4), 669-688, 2015.
- Dye CY, Yang CT. “Optimal dynamic pricing and preservation technology investment for deteriorating products with reference price effects”. Omega, 15, 60-85, 1996.
- Kopalle PK, Rao AG, Assuncao JL. “Assymmetric reference price effects and dynamic pricing policies”. Marketing Science, 15(1), 60-85, 1996.
- Greenleaf EA. “The impact of reference price effect on the profitability of price promotions”. Marketing Science, 14(1), 82-104, 1995.