Author:
Wu Xuanrun,Cao Jianda,Chen Yuan,Ye Jing,Li Duan
Abstract
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.
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