Dynamic pricing strategies for live broadcast platform considering reference effect and anchor influence

HU Jiao, LI Li, ZHANG Hua, ZHU Xingzhen, YANG Wensheng

Systems Engineering - Theory & Practice ›› 2022, Vol. 42 ›› Issue (3) : 755-766.

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Systems Engineering - Theory & Practice ›› 2022, Vol. 42 ›› Issue (3) : 755-766. DOI: 10.12011/SETP2021-0199

Dynamic pricing strategies for live broadcast platform considering reference effect and anchor influence

  • HU Jiao, LI Li, ZHANG Hua, ZHU Xingzhen, YANG Wensheng
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Abstract

As a new marketing method,live broadcast with goods is developing rapidly.How to optimize the dynamic price decision to maximize the broadcast platform and the anchor's profits is an essential task.Based on differential game theory and method,considering the reference effect and anchor influence on the pricing strategy,we study three pricing strategies:Basic pricing,static pricing and dynamic pricing strategy considering the reference effect.The results show that:Under static or dynamic pricing strategies,the optimal pricing of the platform is positively correlated with the initial reference price.When the initial reference price is higher (lower),the optimal price strategy is similar to skimming pricing strategy (penetration pricing strategy);With the increase of the anchor's effort level,the stronger the anchor's influence on consumers'purchasing decision,the platform tends to set higher prices;The dynamic pricing strategy can optimize the profit of the live broadcast platform,but compared with the static pricing strategy,the profit of the anchor is lower;The evolution rule of the live broadcast platform optimal steady-state price and profit with different system parameters.The platform should design the optimal price strategy based on the consumer price reference effect and anchor influence level to improve profitability.

Key words

reference effect / live broadcast / dynamic pricing / differential game

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HU Jiao , LI Li , ZHANG Hua , ZHU Xingzhen , YANG Wensheng. Dynamic pricing strategies for live broadcast platform considering reference effect and anchor influence. Systems Engineering - Theory & Practice, 2022, 42(3): 755-766 https://doi.org/10.12011/SETP2021-0199

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Funding

Social Science Foundation of Jiangsu Province of China (19GLB009);The General Program of National Natural Science Foundation of China (71771122);Post-graduate Scientific Innovation Plan of Jiangsu Province of China (KYCX20_0340)
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