Pricing Models for Perishable Goods with Customer Perception

Manoj Kumar, Nausherwan Raunaque

Perishable goods, Revenue management, Customer Perception, Reservation price.

In this paper, the pricing problem for perishable goods with customer perception is studied. Firstly, the customer value theory is introduced. Secondly, the problem is described. Then, the pricing model of perishable goods is established, in consideration of customer perception. At last, some data analysis and discussion are made via a concrete case study, the optimal pricing policy and maximum expected profit of the retailers are gained and some useful management conclusions are drawn.