An agent-based simulation for a trade-off between frequency and depth in retail price promotion strategy

Busu, M., Vargas, M. V., & Gherasim, I. A. (2020). An analysis of the economic performances of the retail companies in Romania. Management and Marketing, 15(1), 125–133. https://doi.org/10.2478/mmcks-2020-000810.2478/mmcks-2020-0008Search in Google Scholar

Cao, B., Zhou, Y. W., Xie, W., & Zhong, Y. (2017). Optimal pricing/ordering and advertising investment strategies for a capital-constrained retailer. Computers and Industrial Engineering. https://doi.org/10.1016/j.cie.2017.09.05110.1016/j.cie.2017.09.051Search in Google Scholar

Chang, X., Li, J., Rodriguez, D., & Su, Q. (2016). Agent-based simulation of pricing strategy for agri- products considering customer preference. International Journal of Production Research, 54(13), 1–19. https://doi.org/10.1080/00207543.2015.112090110.1080/00207543.2015.1120901Search in Google Scholar

Chen, J., Dong, M., Rong, Y., & Yang, L. (2018). Dynamic pricing for deteriorating products with menu cost. Omega (United Kingdom). https://doi.org/10.1016/j.omega.2017.02.00110.1016/j.omega.2017.02.001Search in Google Scholar

Chen, K., Zha, Y., Alwan, L. C., & Zhang, L. (2020). Dynamic pricing in the presence of reference price effect and consumer strategic behaviour. International Journal of Production Research. https://doi.org/10.1080/00207543.2019.159859210.1080/00207543.2019.1598592Search in Google Scholar

Chen, N., & Liu, Y. (2019). Dynamic Pricing with Money Back Guarantees. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.335733710.2139/ssrn.3357337Search in Google Scholar

Chen, W., Liu, H., & Xu, D. (2018). Dynamic Pricing Strategies for Perishable Product in a Competitive Multi-Agent Retail- ers Market. Journal of Artificial Societies and Social Simulation, 21(12). https://doi.org/10.18564/jasss.371010.18564/jasss.3710Search in Google Scholar

Chen, X., Wang, X., & Jiang, X. (2016). The impact of power structure on the retail service supply chain with an O2O mixed channel. Journal of the Operational Research Society. https://doi.org/10.1057/jors.2015.610.1057/jors.2015.6Search in Google Scholar

Chung, J. (2019). Effective pricing of perishables for a more sustainable retail food market. Sustainability (Switzerland). https://doi.org/10.3390/su1117476210.3390/su11174762Search in Google Scholar

Ding, Q., Dong, C., & Pan, Z. (2016). A hierarchical pricing decision process on a dual-channel problem with one manufacturer and one retailer. International Journal of Production Economics. https://doi.org/10.1016/j.ijpe.2016.02.01410.1016/j.ijpe.2016.02.014Search in Google Scholar

Fassnacht, M., & El Husseini, S. (2013). EDLP versus Hi–Lo pricing strategies in retailing— a state of the art article. Journal of Business Economics. https://doi.org/10.1007/s11573-012-0648-y10.1007/s11573-012-0648-ySearch in Google Scholar

Giri, B. C., & Roy, B. (2016). Dual-channel competition: The impact of pricing strategies, sales effort and market share. International Journal of Management Science and Engineering Management. https://doi.org/10.1080/17509653.2015.105534210.1080/17509653.2015.1055342Search in Google Scholar

Golrezaei, N., Nazerzadeh, H., & Randhawa, R. (2020). Dynamic Pricing for Heterogeneous Time-Sensitive Customers. Manufacturing & Service Operations Management. https://doi.org/10.1287/msom.2018.076310.1287/msom.2018.0763Search in Google Scholar

Haji, A., Afzalabadi, M., & Haji, R. (2018). Pricing and inventory decisions in a vendor managed inventory system with revenue sharing contract. Uncertain Supply Chain Management. https://doi.org/10.5267/j.uscm.2017.11.00110.5267/j.uscm.2017.11.001Search in Google Scholar

He, Z., Cheng, T. C. E., Dong, J., & Wang, S. (2014). Evolutionary Location and Pricing Strategies in Competitive Hierarchical Distribution Systems : A Spatial Agent-Based Model. Systems, Man, and Cybernetics: Systems, 44(7), 822–833. https://doi.org/10.1109/TSMC.2013.229050610.1109/TSMC.2013.2290506Search in Google Scholar

Hotelling, H. (1929). Stability in Competition. The Economic Journal, 39(153), 41–57. https://doi.org/10.2307/222421410.2307/2224214Search in Google Scholar

Hu, S., Hu, X., & Yec, Q. (2017). Optimal rebate strategies under dynamic pricing. Operations Research. https://doi.org/10.1287/opre.2017.164210.1287/opre.2017.1642Search in Google Scholar

Liu, M., Cao, E., & Salifou, C. K. (2016). Pricing strategies of a dual-channel supply chain with risk aversion. Transportation Research Part E: Logistics and Transportation Review. https://doi.org/10.1016/j.tre.2015.11.00710.1016/j.tre.2015.11.007Search in Google Scholar

Luo, Z., Chen, X., & Kai, M. (2018). The effect of customer value and power structure on retail supply chain product choice and pricing decisions. Omega (United Kingdom). https://doi.org/10.1016/j.omega.2017.06.00310.1016/j.omega.2017.06.003Search in Google Scholar

Macal, C. M., & North, M. J. (2010). Tutorial on agent-based modelling and simulation. Journal of Simulation, 4(3), 151–162. https://doi.org/10.1057/jos.2010.310.1057/jos.2010.3Search in Google Scholar

Mazumdar, T., Raj, S. P., & Sinha, I. (2005). Reference Price Research : Review and Propositions. Journal of Marketing, 69(October), 84–102.10.1509/jmkg.2005.69.4.84Search in Google Scholar

Monroe, K. B. (1973). Buyers’ Subjective Perceptions of Price. Journal of Marketing Research. https://doi.org/10.2307/314941110.2307/3149411Search in Google Scholar

Monroe, K. B. (2003). Pricing Making Profitable Decisions (3rd ed.). New York: McGraw-Hill Publishing Company.Search in Google Scholar

Qu, T., Zhang, J. H., Chan, F. T. S., Srivastava, R. S., Tiwari, M. K., & Park, W. Y. (2017). Demand prediction and price optimization for semi-luxury supermarket segment. Computers and Industrial Engineering. https://doi.org/10.1016/j.cie.2017.09.00410.1016/j.cie.2017.09.004Search in Google Scholar

Ridley, D. B. (2016). Hotelling’s Law. In The Palgrave Encyclopedia of Strategic Management. https://doi.org/10.1057/978-1-349-94848-2_421-110.1057/978-1-349-94848-2_421-1Search in Google Scholar

Robertson, D. A., & Caldart, A. A. (2009). The Dynamics of Strategy: Mastering Strategic Landscapes of the Firm (1st Editio). Oxford University Press.Search in Google Scholar

Robinson, S. (2004). Simulation the Practice of Model Development and Use. England: John Wiley & Sons Ltd.Search in Google Scholar

Sivakumar, K. (1996). Tradeoff Between Frequency and Depth of Price Promotions : Implications for High and Low Price Brands. Journal of Marketing, 4(1), 1–8.Search in Google Scholar

Tiwari, S., Jaggi, C. K., Gupta, M., & Cárdenas-Barrón, L. E. (2018). Optimal pricing and lot-sizing policy for supply chain system with deteriorating items under limited storage capacity. International Journal of Production Economics. https://doi.org/10.1016/j.ijpe.2018.03.01910.1016/j.ijpe.2018.03.019Search in Google Scholar

Vrânceanu, D. M., Ţuclea, C. E., & Ţigu, G. (2020). Price search behaviour in digital markets-A perspective from Romania. Management and Marketing, 15(2), 219–235. https://doi.org/10.2478/mmcks-2020-001410.2478/mmcks-2020-0014Search in Google Scholar

Wilensky, U., & Rand, W. (2016). An Introduction to Agent-Based Modeling. The MIT Press.Search in Google Scholar

Xie, Y., Tai, A. H., Ching, W. K., & Siu, T. K. (2016). Pricing strategy for a two-echelon supply chain with optimized return effort level. International Journal of Production Economics. https://doi.org/10.1016/j.ijpe.2016.08.02610.1016/j.ijpe.2016.08.026Search in Google Scholar