Sharif Digital Repository

Pricing and revenue management are among the most important decisions for any economic enterprise. Several factors can influence decisions in this area and change the company’s pricing strategy, including uncertainties in product demand and customer preferences. This factor becomes particularly significant when the product is newly launched. Therefore, over time, customer preferences and willingness to pay may increase through various advertisements such as customer reviews and word-of-mouth. With rising demand, the seller has the opportunity to raise prices in the next periods. However, price increases can lead to unfair pricing perceptions by customers, hence reducing their purchasing...