Dynamic pricing policy in a growing market for a deteriorating product

• Autorzy: Khedlekar Uttam Kumar , Tiwari Ram Kumar , Tiwari Ramkrishna
• Języki publikacji: EN

Abstrakty

EN

In this paper, we suggest an optimal pricing policy in a growing market for a deteriorating product. Here, the demand rate is considered as a function of selling price, time and stock level. When the product is introduced into the market, the demand for the product increases slowly according to the performance of the product and depending on market conditions. In maturity stage, the demand is gradually increasing and hence the need arises of developing a pricing policy in a growing market. This paper proves that there exists an optimal increasing-price policy, especially in a growing market for a product. The final recommendations are made based on a sensitivity analysis.

Słowa kluczowe

EN

inventory; dynamic pricing; quadratic demand; optimal price settings; deterioration

• Wydawca: Systems Research Institute, Polish Academy of Sciences
• Czasopismo: Control and Cybernetics
• Rocznik: 2020
• Tom: Vol. 49, No. 3
• Strony: 333--349
• Opis fizyczny: Bibliogr. 25 poz., rys., tab.

Twórcy

autor

Khedlekar Uttam Kumar

• Department of Mathematics and Statistics, Dr. Harisingh Gour Vishwavidyalaya, Sagar M.P., India (A Central University)

autor

Tiwari Ram Kumar

• Department of Mathematics and Statistics, Dr. Harisingh Gour Vishwavidyalaya, Sagar M.P., India (A Central University)

autor

Tiwari Ramkrishna

• Department of Mathematics, Ghagan Sagar College of Engineering, Sagar M.P., India

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Uwagi

Opracowanie rekordu ze środków MNiSW, umowa Nr 461252 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2021).