Two-period pricing strategy in a supply chain with intertemporal and horizontal reference price effects

IF 1.1 4区计算机科学 Q4 COMPUTER SCIENCE, INFORMATION SYSTEMS

Infor Pub Date : 2021-10-02 DOI:10.1080/03155986.2021.1985903

You Zhao, Rui Hou, Xinggang Luo

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引用次数: 1

Abstract

Abstract In practice, before purchasing products, customers would compare the current price with past observed prices (referred to as the intertemporal reference price effect) and retail prices of other sellers (referred to as the horizontal reference price effect). This study considers a two-period supply chain with one manufacturer who sells a product through two competing retailers. We assume that the manufacturer acts as the Stackelberg game leader, and both retailers act as followers. The manufacturer can quote the same or different wholesale prices for the two retailers, whereas both retailers can employ a pre-announced or responsive pricing strategy. We study the impact of intertemporal and horizontal reference price effects on the selection of pricing formats. Our results show that both retailers and manufacturers can benefit from intertemporal effects. However, the horizontal effect hurts the retailer’s profit, but still improves that of the manufacturer. In equilibrium, the manufacturer sets different wholesale prices to retailers who would employ the pre-announced pricing strategy. Finally, we find that the intertemporal reference price effect plays a key role in the pricing strategy equilibrium of the manufacturer and retailers. Our results complement the dynamic pricing strategy literature and provide new managerial implications for supply chain management. Highlights Pricing format selection problems with IRPE and HRPE are investigated. IRPE hurts the payoff of both retailers but improves the manufacturer. In equilibrium, the manufacturer prefers the strategy “DP”. IRPE plays an important role in pricing format selecting than HRPE.

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具有跨期和横向参考价格效应的供应链两期定价策略

在实践中，消费者在购买产品之前，会将当前价格与过去观察到的价格(称为跨期参考价格效应)和其他卖家的零售价格(称为横向参考价格效应)进行比较。本研究考虑一个两期供应链，其中一个制造商通过两个相互竞争的零售商销售产品。我们假设制造商是Stackelberg游戏的领导者，而两家零售商都是追随者。制造商可以为两家零售商报价相同或不同的批发价格，而两家零售商都可以采用预先宣布或响应式定价策略。我们研究了跨期和横向参考价格效应对定价形式选择的影响。我们的研究结果表明，零售商和制造商都可以从跨期效应中获益。然而，横向效应损害了零售商的利润，但仍然提高了制造商的利润。在均衡状态下，制造商对采用预先宣布的定价策略的零售商设定不同的批发价格。最后，我们发现跨期参考价格效应在制造商和零售商的定价策略均衡中起着关键作用。我们的研究结果补充了动态定价策略的文献，并为供应链管理提供了新的管理启示。重点研究了IRPE和HRPE定价格式选择问题。IRPE损害了零售商的收益，但提高了制造商的收益。在均衡状态下，制造商选择“DP”策略。IRPE在定价格式选择上比HRPE发挥更大的作用。

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

Infor 管理科学-计算机：信息系统

CiteScore

2.60

自引率

7.70%

发文量

审稿时长

>12 weeks

期刊介绍： INFOR: Information Systems and Operational Research is published and sponsored by the Canadian Operational Research Society. It provides its readers with papers on a powerful combination of subjects: Information Systems and Operational Research. The importance of combining IS and OR in one journal is that both aim to expand quantitative scientific approaches to management. With this integration, the theory, methodology, and practice of OR and IS are thoroughly examined. INFOR is available in print and online.