E3S Web Conf.
Volume 237, 20213rd International Symposium on Architecture Research Frontiers and Ecological Environment (ARFEE 2020)
|Number of page(s)||4|
|Section||Energy Conservation and Emission Reduction, Energy Science|
|Published online||09 February 2021|
Pricing of Special-Shaped Pearl Pendant Based on GABORGRANGER
Design College, Jiaxing University, Zhe Jiang, China
2 College of Materials and Textile Engineering, Jiaxing University, Zhe Jiang, China
In order to gain high innovation value profit of special-shaped pearl pendant on the market, the optimum price of such new product was confirmed in the work using GABOR-GRANGER. Firstly, 200 target consumers were selected for the cluster analysis of their attitudes toward baroque pearls. Then, GABOR-GRANGER was applied to calculate the fake income and price threshold of set price point. Last, it was determined the lower limit of 95% confidence bounds of the maximum value of fake income as the conservative optimal price. Results show that the main target consumer groups were not concerned about the price because of the singular and beautiful shape of pearl. Through calculation by Granger Gabor, the optimal price of special-shaped pearl pendant was higher 60.8% than the price obtained by cost plus calculation. Therefore, it is possible to achieve high innovation value profit of new products on the market.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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