Study on Revenue Management Considering Strategic Customer Behavior
Chuiri Zhou, Yu Wu
.
DOI: 10.4236/jssm.2011.44058   PDF    HTML     5,523 Downloads   10,481 Views   Citations

Abstract

This article reviews the literatures of revenue management and introduces the status of traditional research about perishable products in this field. We analyse revenue management considering strategic customer behavior and the related researches about dynamic pricing, finally we discuss the existing problems and suggest several future research directions.

Share and Cite:

C. Zhou and Y. Wu, "Study on Revenue Management Considering Strategic Customer Behavior," Journal of Service Science and Management, Vol. 4 No. 4, 2011, pp. 507-512. doi: 10.4236/jssm.2011.44058.

Conflicts of Interest

The authors declare no conflicts of interest.

References

[1] K. Talluri and G. Van Ryzin, “The Theory and Practice of Revenue Management,” Springer, New York, 2005.
[2] J. Zhou and H. Yang, “Revenue Management Methods and Application,” Science Press, Beijing, 2009.
[3] X. Z. Bu, Q. W. Zhao and Z. Y. Wu, “Study on The Dynamic Control Policy of Container Liner Slots Based on Revenue Management,” Chinese Journal of Management Science, Vol. 14, No. 1, 2006, pp. 56-60.
[4] J. Chen, Y. B. Xiao and X. L. Liu, “Joint Dynamic Seat Inventory Control for Parallel Flights with Advance Selling at Super Discount Prices,” Chinese Journal of Management Science, Vol. 13, No. 1, 2005, pp. 148-152.
[5] L. Luo and J. H. Peng, “A Dynamic Pricing Model for Airline Revenue Management with Competition,” Systems Engineering-Theory & Practice, Vol. 11, 2007, pp. 16-26.
[6] X. Cheng, “Study on Pricing and Allocation for Car Rental Based on Revenue Management,” Systems Engineering-Theory Methodology Applications, Vol. 3, 2005, pp. 265-268.
[7] H. Yang and J. Zhou, “A Cournot Game of Setting Optimal Markdown Timing for Perishable Products,” Chinese Journal of Management Science, Vol. 14, No. 3, 2006, pp. 45-50.
[8] Z. Z. Guan and B. S. Shi, “Ordering and Pricing Policy for Perishable Commodities Revenue Management Based on Consumer Choice Model,” Systems Engineering-Theory & Practice, Vol. 9, 2007, pp. 47-53.
[9] B. X. Lan and L. Zhang, “Revenue Management for High-Speed Passenger Railway,” Chinese Journal of Management Science, Vol. 4, 2009, pp. 53-59.
[10] Y. Q. Xu, Y. H. Wei and Q. Y. Hu, “Revenue Management Problems for Customer- and Seller-Pricing Based on Priceline,” Journal of Management Sciences in China, Vol. 3, 2008, pp. 63-69.
[11] L. Ran, J. L. Li and L. P. Xu, “Study on the Robust Model in Single-Unit Product Dynamic Pricing in Revenue Management,” Application of Statistics and Management, Vol. 28, No. 5, 2009, pp. 934-941.
[12] S. Z.-J. Max and S. X. Ming, “Customer Behavior Mo- deling in Revenue Management and Auctions: A Review and New Research Opportunities,” Production and Operations Management, Vol. 16, No. 6, 2007, pp. 713-728.
[13] G. P. Cachon and R. Swinney, “Purchasing, Pricing, and Quick Response in the Presence of Strategic Consumers,” Management Science, Vol. 55, No. 3, 2009, pp. 497-511. doi:10.1287/mnsc.1080.0948
[14] Y. Aviv and A. Pazgal, “Optimal Pricing of Seasonal Products in the Presence of Forward-Looking Consumers,” Manufacturing Service Operation Management, Vol. 10, No. 3, 2008, pp. 339-359. doi:10.1287/msom.1070.0183
[15] D. Besanko and W. L. Winston, “Optimal Price Skimming by a Monopolist Facing Rational Consumers,” Management Science, Vol. 36, 1990, pp. 555-567. doi:10.1287/mnsc.36.5.555
[16] K. T. Talluri and G. J. Van Ryzin, “Revenue Management under a General Discrete Choice Model of Consumer Behavior,” Management Science, Vol. 50, No. 1, 2004, pp. 15-33. doi:10.1287/mnsc.1030.0147
[17] S. X. Ming, “Inter-Temporal Pricing with Strategic Customer Behavior,” Management Science, Vol. 53, No. 5, 2007, pp. 726-741. doi:10.1287/mnsc.1060.0667
[18] W. Elmalghraby, A. Gulcu and P. Keskinocak, “Designing Optimal Preannounced Markdowns in the Presence of Rational Customers with Multiunit Demands,” Manufacturing Service Operations Management, Vol. 10, No. 1, 2008, pp. 126-148. doi:10.1287/msom.1070.0157
[19] Y. Levin, J. McGill and M. Nediak, “Price Guarantees in Dynamic Pricing and Revenue Management,” Operations Research, Vol. 55, No. 1, 2007, pp. 75-97. doi:10.1287/opre.1060.0344
[20] Y. Levin, J. McGill and M. Nediak, “Optimal Dynamic Pricing of Perishable Items by a Monopolist Facing Strategic Consumers,” Production and Operations Management, 2009.
[21] Y. Levin, J. McGill and M. Nediak, “Dynamic Pricing in the Presence of Strategic Consumers and Oligopolistic Competition,” Management Science, Vol. 55, No. 1, 2009, pp. 32-46. doi:10.1287/mnsc.1080.0936
[22] G. Gallego and O. Sahin, “Inter-Temporal Valuations, Product Design and Revenue Management,” Columbia University, New York, 2006.
[23] X. F. Liu and H. Pei, “Optimal Dynamic Pricing and Inventory Policy under Strategic Customer,” Journal of Management Sciences in China, Vol. 5, 2009, pp. 18-26.
[24] Q. Liu and G. J. Van Ryzin, “Strategic Capacity Rationing to Induce Early Purchases,” Management Science, Vol. 54, No. 6, 2008, pp. 1115-1131. doi:10.1287/mnsc.1070.0832
[25] D. Zhang and W. L. Cooper, “Managing Clearance Sales in the Presence of Strategic Customers,” Production and Operations Management, Vol. 17, No. 4, 2008, pp. 416- 431. doi:10.3401/poms.1080.0039
[26] S. X. Ming and F. Zhang, “On the Value of Commitment and Availability Guarantees when Selling to Strategic Consumers,” Management Science, Vol. 55, No. 5, 2009, pp. 713-726. doi:10.1287/mnsc.1080.0991
[27] Z. Xu, “Optimal Best-Price Policy,” Northwestern University, Evanston, IL, 2008.
[28] G. Lai, L. G. Debo and K. Sycara, “Buy Now and Match Later: Impact of Posterior Price Matching on Profit with Strategic Consumers,” Manufacturing Service Operations Management, 2009.
[29] C. S. Tang, K. Rajaram, A. Alptekinoglu and J. Ou, “The Benefts of Advance Booking Discount Programs: Models and Analysis,” Management Science, Vol. 50, No. 4, 2004, pp. 465-478. doi:10.1287/mnsc.1030.0188
[30] M. Yu, R. Kapuscinski and H.-S. Ahn, “Advance Selling with Limited Capacity and Customers’ Dependent Valuations,” Ross School of Business, University of Michigan, Ann Arbor, 2007.
[31] R. Yin, Y. Aviv, A. Pazgal and C. S. Tang, “Optimal Markdown Pricing: Implications of Inventory Display Fo- rmats in the Presence of Strategic Customers,” Management Science, Vol. 55, No. 8, 2009, pp. 1391-1408. doi:10.1287/mnsc.1090.1029
[32] K. Jerath, S. Netessine and S. K. Veeraragharan, “Revenue Management with Strategic Customers: Last-Minute Selling and Opaque Selling,” Management Science, 2009.
[33] R. Swinney, “Selling to Strategic Consumers When Product Value is Uncertain: The Value of Matching Supply and Demand,” Stanford University, Working paper, 2009.
[34] G. P. Cachon and R. Swinney, “The Value of Fast Fashion: Rapid Production, Enhanced Design, and Strategic Consumer Behavior,” University of Pennsylvania, Philadelphia, 2009b.
[35] P. Desai, O. Koenigsberg and D. Purohit, “Strategic Decentralization and Channel Coordination,” Marketing Economy, Vol. 2, 2004, pp. 5-22. doi:10.1023/B:QMEC.0000017033.09155.12
[36] A. Arya and B. Mittendorf, “Benefits of Channel Discord in the Sale of Durable Goods,” Marketing Science, Vol. 25, No. 1, 2006, pp. 91-96. doi:10.1287/mksc.1050.0143
[37] J. D. Dana, “New Directions in Revenue Management Research,” Production and Operations Management, Vol. 17, No. 4, 2008, pp. 399-401. doi:10.3401/poms.1080.0040

Copyright © 2024 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.