Optimal Pricing strategies for green products based on win-win concept

The promotion of green products is a resolution for reducing resource waste and improving environment pollution. Resources of green products are relatively limited which entails inconvenience and higher price for purchasing green products. Therefore, how to determine the amount that customers are wi...

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Bibliographic Details
Main Author: Miao Ling Wang
Format: Conference Proceeding
Language:English
Subjects:
Engineering management
Environmental management
Green product
Green products
Industrial engineering
integer programming
MAUT
nonlinear mixed
Pricing
Protection
Recycling
Resource management
Technology management
Waste management
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Summary:The promotion of green products is a resolution for reducing resource waste and improving environment pollution. Resources of green products are relatively limited which entails inconvenience and higher price for purchasing green products. Therefore, how to determine the amount that customers are willing to pay for them is an important issue. In this study, we proposed an analytical method to solve this problem. A list of questionnaires was designed to determine customers' behavior and preferences. Then, incorporating an MAUT technique, a win-win concept is adopted to develop a bi- objective nonlinear mixed integer problem. The results provide optimal price and promotion strategies, which ensure greater satisfaction on both suppliers and customers.
ISSN:2157-3611
2157-362X
DOI:10.1109/IEEM.2007.4419152