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 | |
| Publication status | Published - 2009 Jan 1 |
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All Science Journal Classification (ASJC) codes
- Engineering(all)
- Computer Science Applications
- Artificial Intelligence
Cite this
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Optimal pricing for mobile manufacturers in competitive market using genetic algorithm. / Sohn, So Young; Moon, Tae Hee; Seok, Kim Jong.
In: Expert Systems with Applications, Vol. 36, No. 2 PART 2, 01.01.2009, p. 3448-3453.Research output: Contribution to journal › Article
TY - JOUR
T1 - Optimal pricing for mobile manufacturers in competitive market using genetic algorithm
AU - Sohn, So Young
AU - Moon, Tae Hee
AU - Seok, Kim Jong
PY - 2009/1/1
Y1 - 2009/1/1
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=56349120588&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=56349120588&partnerID=8YFLogxK
U2 - 10.1016/j.eswa.2008.02.051
DO - 10.1016/j.eswa.2008.02.051
M3 - Article
AN - SCOPUS:56349120588
VL - 36
SP - 3448
EP - 3453
JO - Expert Systems with Applications
JF - Expert Systems with Applications
SN - 0957-4174
IS - 2 PART 2
ER -