Download This PaperOptimal Pricing of a Personalized Product
Journal of Systems Science and Systems Engineering, January 2008
6 Pages Posted: 16 Feb 2008 Last revised: 1 May 2014
Abstract
This paper deals with optimal pricing of a personalized product such as a personal portrait or photo. A new model of the pricing structure inspired by two real-life cases is introduced to the literature and solved to obtain optimal photo sitting fees and the final product price. A sensitivity analysis with respect to the problem parameters is performed.
Keywords: personalized product, pricing, salvage loss, customized product, sensitivity analysis
JEL Classification: C61, M3
Suggested Citation: Suggested Citation
Sethi, Suresh, Optimal Pricing of a Personalized Product. Journal of Systems Science and Systems Engineering, January 2008, Available at SSRN: https://ssrn.com/abstract=1094175
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