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1、1,Price Decisions for New Product with and without Subsidy,2,Introduction Literature review Price decisionsNumerical Example Conclusion,Outline,3,Introduction,In order to stimulate private spending and curb pollution,the Chinese government has decided to offer financial subsidy to carry out auto rep
2、lacement and home-appliance replacement from June 1(2009)to May 31(2010).For the home-appliance replacement,the consumers consumption willingness is very strong by the financial subsidy.As a result,the new product demand increases and the manufacturer can get more profit.,4,Because the financial sub
3、sidy can be offered until May 31(2010),the manufacturer must face the following problems:if the government stops to offer the financial subsidy,whether to continue the home-appliance replacement or not?If continue to carry out the home-appliance replacement,the manufacturer should give the payment t
4、o the consumer who replace the new product with an old one.In this case,how to make the price decisions?Whats the key factor which affects the home-appliance replacement?,5,Motivated by these questions,in this paper,we will give the price decisions for the manufacturer and the retailer in three peri
5、ods:in the first period,there is no home-appliance replacement and without the financial subsidy;in the second period,the home-appliance replacement is begun and with the financial subsidy;and in the third period,the home-appliance replacement is continued and without the financial subsidy.,We will
6、analyze the price decisions and illustrate the optimal results by a numerical example.,6,literature,R.Saibal,B.Tamer,A.Necati,“Optimal prices and trade-in rebates for durable,remanufacturable products,”Manufacturing&Service Operations Management,vol.7,No.3,2005,pp:208-228.Saibal et al studied the op
7、timal pricing/trade-in strategies for durable,remanufacturable products.The model they gave can help the managers to determine the optimal price for new customers and the optimal trade-in rebate for replacement customers,for quite a general class of age-profile distributions,7,D.Fudenberg,J.Tirole,“
8、Upgrades,trade-ins and buybacks,”RAND J.Econom.,vol 29,No.2,1998,pp:235-258.D.A.Levinthal,D.Purohit,“Durable goods and product obsolescence,”Marketing Science,vol 8,No.1,1989,pp:35-56.Fudenberg and Tirole,Levinthal and Purohit studied the issues related to monopoly pricing and/or production policies
9、 of successive generations of a product.Their study is based on a two-period framework,and in the second period,the manager should decide to offer trade-in rebates for upgrades to repeat purchasers or to buyback some of the old models.,8,The key difference between our study and the above literatures
10、 is that we consider two cases of the home-appliance replacement with subsidy and without subsidy in three periods.,9,Assumptions and Notations,Decisions,Assumption 1:The manufacturer has the same unit manufacturing cost of a new product in each period and the retailer has the same unit operating co
11、st when the retailer sells a new product.Assumption 2:The manufacturer has sufficient channel power over the retailer to act as a Stackelberg leader in each period.Assumption 3:The manufacturer should offer the payment that equals to the subsidy when the government stops the subsidy.,10,11,12,13,The price decisions of the first period,14,The price decisions of the second period with subsidy,15,16,The price decisions of the third period without subsidy,17,18,19,Numerical Example,20,21,22,23,24,25,26,27,28,Conclusions,29,Thanks！,
