Two-Stage Online Product Pricing Optimization Based on Consumer Decision Factors

Under platform economy, prices, reviews, and sales are the three most concerned purchase decision factors for consumers. However, different customers have different sensitivity to the same decision factors. Therefore, it would be an important to study the sensitivity of the consumers to reviews, price, and sales. Based on the Multinominal Logit Model (MNL Model), this paper constructs a two-stage pricing model for new products of platform enterprises, and studies the influence of price, review and sales on enterprise profit. Then it analyzes the influence mechanism of consumers' sensitivity to price change, product cost and consumers' valuation of product quality on product pricing and enterprise profit. After that, it further formulates the two-stage optimal pricing strategy for product sales. Research shows that enterprises should not only consider consumers' sensitivity to comments, price and sales volume, but also learn from the previous sales experience when making pricing strategy. The research results can provide theoretical basis and decision support for product pricing and operation management of platform enterprises.