IDEAS home Printed from https://ideas.repec.org/a/hin/jnlmpe/1478953.html
   My bibliography  Save this article

Dynamic Pricing Model of Service-Oriented Educational Products Based on Revenue Management

Author

Listed:
  • Jing Zeng
  • Ling Lin
  • Wen-Tsao Pan

Abstract

As the economic environment changes, more and more loopholes appear in the actual application of traditional pricing methods. Existing methods cannot accurately predict changes in consumer demand and cannot accurately mine potential consumer demand. Existing methods cannot achieve the maximization of corporate profits, which has become a difficult problem for service-oriented corporate revenue management. This article mainly studies the pricing of service-oriented products in the context of revenue management. By studying and reviewing relevant literature on the dynamic pricing of service-oriented products, this article clarifies the characteristics of service-oriented products and several loopholes in the current pricing of service-oriented products. Based on the current research results of dynamic pricing at home and abroad, this article summarizes the influencing factors of dynamic pricing and establishes the dynamic pricing model of this article. This article selects the current hotspot and the reinforcement learning method that conforms to the multidimensional characteristics to solve the calculation of the model. Through analysis, the optimal state-action pair of the model in this article is obtained, and the optimal path of environment and behavior is formed to obtain the maximum profit.

Suggested Citation

  • Jing Zeng & Ling Lin & Wen-Tsao Pan, 2022. "Dynamic Pricing Model of Service-Oriented Educational Products Based on Revenue Management," Mathematical Problems in Engineering, Hindawi, vol. 2022, pages 1-13, April.
  • Handle: RePEc:hin:jnlmpe:1478953
    DOI: 10.1155/2022/1478953
    as

    Download full text from publisher

    File URL: http://downloads.hindawi.com/journals/mpe/2022/1478953.pdf
    Download Restriction: no

    File URL: http://downloads.hindawi.com/journals/mpe/2022/1478953.xml
    Download Restriction: no

    File URL: https://libkey.io/10.1155/2022/1478953?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hin:jnlmpe:1478953. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mohamed Abdelhakeem (email available below). General contact details of provider: https://www.hindawi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.