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OpenTide China's pricing decision-making support system 2.0 for digital industry in China
- Issue Date
- 2009
- Keywords
- Mixture model; Price response function; Pricing
- Citation
- Communications in Computer and Information Science, v.62, pp 25 - 32
- Pages
- 8
- Indexed
- SCOPUS
- Journal Title
- Communications in Computer and Information Science
- Volume
- 62
- Start Page
- 25
- End Page
- 32
- ISSN
- 1865-0929
- Abstract
- The purpose of this research is to develop a comprehensive pricing decision-making support system that marketers in digital industry can use to set price level and quantity for digital products including mobile phone, TV, computer, mp3 and monitor. The OpenTide Pricing Decision-making Support System (OTC's PDSS) consists of the price response function for each product, the promotion response function, the cost function, mixture modeling, Kane's regency modeling and Brian's competitive algorithm. Then we have applied the OTC's PDSS to the digital industry and yielded the profit maximization price point, revenue maximization price point, and their quantity level for each product category. ? 2009 Springer-Verlag Berlin Heidelberg.
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