Optimal pricing for mobile manufacturers in competitive market using genetic algorithm

So Young Sohn; Tae Hee Moon; Kim Jong Seok

doi:10.1016/j.eswa.2008.02.051

Optimal pricing for mobile manufacturers in competitive market using genetic algorithm

So Young Sohn, Tae Hee Moon, Kim Jong Seok

Department of Industrial Engineering

Research output: Contribution to journal › Article › peer-review

15 Citations (Scopus)

Abstract

As mobile communication market grows rapidly, in Korea, competitive strategies in mobile phone manufacturers are crucial. However, the way the mobile phone manufacturers adopt a pricing policy is not flexible enough to maximize the profit under the competitive environment. In this paper, we derive a dynamic pricing model for considering the price change of product itself but also the relative price change of competing products. Scenario analysis is performed to find optimal pricing policy based on genetic algorithm. Our proposed model is expected to provide adaptable pricing policy in a competitive market for a mobile phone set.

Original language	English
Pages (from-to)	3448-3453
Number of pages	6
Journal	Expert Systems with Applications
Volume	36
Issue number	2 PART 2
DOIs	https://doi.org/10.1016/j.eswa.2008.02.051
Publication status	Published - 2009 Mar

All Science Journal Classification (ASJC) codes

Engineering(all)
Computer Science Applications
Artificial Intelligence

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