Optimal pricing of subscription services in the restaurant industry

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-02-13 DOI:10.1057/s41272-023-00470-6

引用次数: 0

Abstract

Currently, the hospitality industry is experiencing an increase in the adoption of subscription-based business models among restaurants. Pricing is a critical factor to consider when deploying the subscription models. However, only a few studies in the literature talk of pricing the new subscriptions and even in these studies no algorithm is given for setting the prices. Consequently, this study aims to derive an optimal pricing strategy for subscription services in the restaurant industry through a two-step implementable framework. In the first step, we try to understand the preferences of the consumers and accordingly curate different subscription packages for them. In the second step, we propose a linear programming-based optimization model to price these packages in an optimal manner. The linear programming model is solved by CPLEX 12.7 solver software. Finally, the authors discuss the theoretical and managerial implications of their findings.

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餐饮业订阅服务的最优定价

摘要目前，餐饮业越来越多地采用订阅式商业模式。在部署订阅模式时，定价是一个需要考虑的关键因素。然而，文献中只有少数研究谈到了新订阅模式的定价问题，即使在这些研究中也没有给出定价算法。因此，本研究旨在通过一个分两步实施的框架，推导出餐饮业订阅服务的最优定价策略。第一步，我们试图了解消费者的偏好，并据此为他们策划不同的订阅套餐。第二步，我们提出一个基于线性规划的优化模型，以最优方式为这些套餐定价。线性规划模型由 CPLEX 12.7 求解软件求解。最后，作者讨论了研究结果的理论和管理意义。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.