Dynamic pricing with ‘BOGO’ promotion in revenue management
研究了有限销售期内，面对不确定需求，卖家采用动态定价和“买一送一”等折扣促销时的最优定价策略，并通过数值实验给出管理启示。
We consider a dynamic pricing problem when a seller, facing uncertain demands, sells a single product in a finite horizon. The seller actively adopts dynamic pricing and quantity discount schemes. The proposed model is based on the assumption that each customer has random reservation prices and the purchase size depends on the posted price and discount. We particularly focus on the widely adopted promotional schemes ‘buy one get one free’ and ‘50% off’ and study the optimal strategic choices of the seller. Analytical results together with numerical experiments are presented to help us obtain managerial insights. Additional numerical results for a generalised model are provided so as to examine the effectiveness of promotional schemes.