What is the behaviour of customers on pricing of perishable products?
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Customers exhibit strategic behavior when it comes to pricing of perishable products. They consider factors like reference prices, historical pricing, and timing of purchases to maximize their surplus. Additionally, customers' overconfidence can influence pricing decisions in a dual-channel setting, impacting optimal wholesale, retail, and direct selling prices. Furthermore, retailers' fairness concerns affect pricing and ordering quantity decisions, with fair-minded retailers tending to adjust prices and quantities under different supply chain contracts. This behavior is crucial for retailers to understand as it directly impacts their pricing strategies, profit margins, and overall supply chain coordination. Ultimately, customer behavior plays a significant role in shaping the pricing dynamics of perishable products in the market.
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| Papers (5) | Insight |
|---|---|
| Customers' overconfidence influences perishable product pricing decisions in dual-channel settings. Mean or precision overconfidence affects optimal wholesale, retail, and direct sale prices, urging businesses to manage consumer perceptions. | |
| Customers' strategy behavior impacts dynamic pricing of perishable products, influencing retailers' pricing mechanisms and profits under uncertain and deterministic demand scenarios, incorporating discount factors and inventory considerations. | |
Open access•Proceedings Article 01 Jan 2015 1 Citations | Customers exhibit varied behaviors on pricing of perishable products. Some anticipate sales for optimal purchase timing, while others buy when prices are below their valuation, as discussed in the paper. |
01 May 2017 | Customers exhibit strategic behavior and consider reference prices when purchasing perishable products, impacting optimal dynamic pricing strategies for firms to maximize profit. |
| Customers' behavior on pricing of perishable products is influenced by category management, with issues identified in assortment planning, promotions, and shelf life, impacting their purchase decisions. |
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