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doi: 10.3934/jimo.2021224
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## Pricing strategy and product quality design with platform-investment

 1 IIF, School of Management, University of Science and Technology of China, Hefei 230026, China 2 School of Finance, Anhui University of Finance and Economics, Bengbu 233030, China 3 Faculty of Management and Economics, Kunming University of Science and Technology, Kunming 650093, China

* Corresponding author: Gongbing Bi

Received  December 2020 Revised  October 2021 Early access January 2022

Fund Project: The research is supported by the Key Program of the National Natural Science Foundation of China [Grant Number: 71731010], the National Natural Science Foundation of China [Grant Number: 72171214, 71571174, 72101003, 71801203], the Key Research and Development Project of Anhui Province [Grant Number: 201904a07020040], the Key Education Department Project of Anhui Province [SK2020A0388] and Key Project of West Anhui University [wxsk201923]

With the development of business, more consumers are quality sensitive and improving the product quality becomes particularly important. We mainly discuss two investment strategies: retailer-investment and platform-investment. Compared with non-investment case, only if consumer sensitivity is not too high, it is profitable for the retailer to select retailer-investment. When both retailer-investment and platform-investment are viable, the choice of investment mechanism depends on the profit-sharing ratio. Particularly, if the ratio is within a certain range, the optimal investment strategy is platform-investment, achieving a triple-win outcome. Besides, to effectively alleviate the contradiction between the retailer's moral hazard problem and the sustainable value-added effect of platform-investment, we further research the contract term. These results give us some meaningful management inspirations in investment mechanism.

Citation: Xiujing Dang, Yang Xu, Gongbing Bi, Lei Qin. Pricing strategy and product quality design with platform-investment. Journal of Industrial and Management Optimization, doi: 10.3934/jimo.2021224
##### References:
 [1] V. Abhishek, K. Jerath and Z. John, Agency selling or reselling? Channel structures in electronic retailing, Management Science, 62 (2016), 2259-2280. [2] E. Cao, L. Du and J. Ruan, Financing preferences and performance for an emission-dependent supply chain: Supplier vs. bank, International Journal of Production Economics, 208 (2019), 383-399. [3] C. Chen, Design for the environment: A quality-based model for green product development, Management Science, 47 (2001), 250-263.  doi: 10.1287/mnsc.47.2.250.9841. [4] S. Chen, H. Lee and K. Moinzadeh, Supply chain coordination with multiple shipments: The optimal inventory subsidizing contracts, Oper. Res., 64 (2016), 1320-1337.  doi: 10.1287/opre.2016.1529. [5] Y. Chen, N. John and Y. Degan, Application developers' product offering strategies in multi-platform markets, European J. Oper. Res., 273 (2018), 320-333. [6] S. E. Chick, H. Mamani and D. Simchi-Levi, Supply chain coordination and influenza vaccination, Oper. Res., 56 (2008), 1493-1506.  doi: 10.1287/opre.1080.0527. [7] P. Du, L. Xu, Q. Chen and S. B. Tsai, Pricing competition on innovative product between innovator and entrant imitator facing strategic customers, International Journal of Production Research, 56 (2016), 1806-1824. [8] S. Fatehi and M. R. Wagner, Crowdfunding via revenue-sharing contracts, Manufacturing & Service Operations Management, 21 (2019), 875-893. [9] G. Ferrer and J. M. Swaminathan, Managing new and remanufactured products, Management Science, 51 (2006), 15-26. [10] H. Fu, M. Liu and B. Chen, Supplier's investment in manufacturer's quality improvement with equity holding, J. Ind. Manag. Optim., 17 (2021), 649-668.  doi: 10.3934/jimo.2019127. [11] Y. Gerchak and Y. Wang, Revenue-sharing vs. wholesale-price contracts in assembly systems with random demand, Production & Operations Management, 13 (2009), 23-33. [12] D. Gong, S. Liu, J. Liu and L. Ren, Who benefits from online financing? A sharing economy e-tailing platform perspective, International Journal of Production Economics, 222 (2020), 107490, 1–10. doi: 10.1016/j. ijpe. 2019.09.011. [13] X. Guo, L. Cheng and J. Liu, Green supply chain contracts with eco-labels issued by the sales platform: Profitability and environmental implications, International Journal of Production Research, 58 (2020), 1485-1504.  doi: 10.1080/00207543.2019.1658911. [14] A. Hagiu and J. Wright, Marketplace or reseller?, Management Science, 61 (2016), 184-203. [15] Z. Hong and X. Guo, Green product supply chain contracts considering environmental responsibilities, Omega, 83 (2019), 155-166. [16] Z. Hong, H. Wang and Y. Gong, Green product design considering functional-product reference, International Journal of Production Economics, 210 (2019), 155-168. [17] B. Jiang, K. Jerath and K. Srinivasan, Firm strategies in the 'mid tail' of platform-based retailing, Marketing Science, 30 (2011), 757-775. [18] Y. Kwark, J. Chen and S. Raghunathan, Platform or wholesale? A strategic tool for online retailers to benefit from third-party information, Mis Quarterly, 41 (2017), 763-785.  doi: 10.25300/MISQ/2017/41.3.05. [19] F. Li, C. T. Du and Y. Wei, Offensive pricing strategies for online platforms, International Journal of Production Economics, 216 (2019), 287-304. [20] Y. F. Lim, Y. Wang and Y. Wu, Consignment contracts with revenue sharing for a capacitated retailer and multiple manufacturers, Manufacturing & Service Operations Management, 17 (2012), 527-537. [21] Z. Liu, T. D. Anderson and J. M. Cruz, Consumer environmental awareness and competition in two-stage supply chains, European J. Oper. Res., 218 (2012), 602-613.  doi: 10.1016/j.ejor.2011.11.027. [22] B. Mantin, H. Krishnan and T. Dhar, The strategic role of third-party marketplaces in retailing, Production & Operations Management, 23 (2015), 1937-1949. [23] Y. Ozinci, Y. Perlman and S. Westrich, Competition between organic and conventional products with different utilities and shelf lives, International Journal of Production Economics, 191 (2017), 74-84. [24] K. Panos, T. Danko and W. Zhao, Supply chain contracting in environments with volatile input prices and frictions, Manufacturing & Service Operations Management, 20 (2018), 130-146. [25] P. Roma, U. Panniello and G. Lo Nigro, Sharing economy and incumbents' pricing strategy: The impact of airbnb on the hospitality industry, International Journal of Production Economics, 214 (2019), 17-29. [26] J. K. Ryan, D. Sun and X. Zhao, Coordinating a supply chain with a manufacturer-owned online channel: A dual channel model under price competition, IEEE Transactions on Engineering Management, 60 (2013), 247-259. [27] L. Sun, R. H. Teunter, M. Z. Babai and G. Hua, Optimal pricing for ride-sourcing platforms, European J. Oper. Res., 278 (2019), 783-795.  doi: 10.1016/j.ejor.2019.04.044. [28] C. Wang, X. Fan and Z. Yin, Financing online retailers: Bank vs. electronic business platform, equilibrium, and coordinating strategy, European J. Oper. Res., 276 (2019), 343-356.  doi: 10.1016/j.ejor.2019.01.009. [29] D. Wu, L. Yang and D. L. Olson, Green supply chain management under capital constraint, International Journal of Production Economics, 215 (2019), 3-10. [30] T. Wu, M. Zhang, X. Tian, S. Wang and G. Hua, Spatial differentiation and network externality in pricing mechanism of online car hailing platform, European J. Oper. Res., 219 (2020), 275-283. [31] X. Wu, Z. Fan and B. Cao, Cost-sharing strategy for carbon emission reduction and sales effort: A Nash game with government subsidy, J. Ind. Manag. Optim., 16 (2020), 1999-2027.  doi: 10.3934/jimo.2019040. [32] S. Xiao, S. P. Sethi, M. Liu and S. Ma, Coordinating contracts for a financially constrained supply chain, Omega, 72 (2017), 71-86. [33] B. Yalabik and R. J. Fairchild, Customer, regulatory, and competitive pressure as drivers of environmental innovation, International Journal of Production Economics, 131 (2011), 519-527. [34] X. Yan, H. Zhao and K. Tang, Requirement or promise? An analysis of the first-mover advantage in quality contracting, Production & Operations Management, 24 (2015), 917-933.  doi: 10.1111/poms.12315. [35] Y. Yan, R. Zhao and Z. Liu, Strategic introduction of the marketplace channel under spillovers from online to offline sales, European J. Oper. Res., 267 (2018), 65-77.  doi: 10.1016/j.ejor.2017.11.011. [36] H. Yang and W. Chen, Retailer-driven carbon emission abatement with consumer environmental awareness and carbon tax: Revenue-sharing versus cost-sharing, Omega, 78 (2018), 179-191. [37] A. Yenipazarli, Managing new and remanufactured products to mitigate environmental damage under emissions regulation, European J. Oper. Res., 249 (2016), 117-130.  doi: 10.1016/j.ejor.2015.08.020. [38] J. Zhang, Q. Cao and X. He, Contract and product quality in platform selling, European J. Oper. Res., 272 (2019), 928-944.  doi: 10.1016/j.ejor.2018.07.023. [39] L. Zhang, J. Wang and J. You, Consumer environmental awareness and channel coordination with two substitutable products, European J. Oper. Res., 241 (2015), 63-73.  doi: 10.1016/j.ejor.2014.07.043. [40] M. Zhang, J. Zhang, T. C. E. Cheng and G. Hua, Why and how do branders sell new products on flash sale platforms?, European J. Oper. Res., 270 (2018), 337-351.  doi: 10.1016/j.ejor.2018.02.051. [41] X. Zhao, Coordinating a supply chain system with retailers under both price and inventory competition, Production & Operations Management, 17 (2008), 532-542. [42] W. Zhu and Y. He, Green product design in supply chains under competition, European J. Oper. Res., 258 (2017), 165-180.  doi: 10.1016/j.ejor.2016.08.053.

show all references

##### References:
 [1] V. Abhishek, K. Jerath and Z. John, Agency selling or reselling? Channel structures in electronic retailing, Management Science, 62 (2016), 2259-2280. [2] E. Cao, L. Du and J. Ruan, Financing preferences and performance for an emission-dependent supply chain: Supplier vs. bank, International Journal of Production Economics, 208 (2019), 383-399. [3] C. Chen, Design for the environment: A quality-based model for green product development, Management Science, 47 (2001), 250-263.  doi: 10.1287/mnsc.47.2.250.9841. [4] S. Chen, H. Lee and K. Moinzadeh, Supply chain coordination with multiple shipments: The optimal inventory subsidizing contracts, Oper. Res., 64 (2016), 1320-1337.  doi: 10.1287/opre.2016.1529. [5] Y. Chen, N. John and Y. Degan, Application developers' product offering strategies in multi-platform markets, European J. Oper. Res., 273 (2018), 320-333. [6] S. E. Chick, H. Mamani and D. Simchi-Levi, Supply chain coordination and influenza vaccination, Oper. Res., 56 (2008), 1493-1506.  doi: 10.1287/opre.1080.0527. [7] P. Du, L. Xu, Q. Chen and S. B. Tsai, Pricing competition on innovative product between innovator and entrant imitator facing strategic customers, International Journal of Production Research, 56 (2016), 1806-1824. [8] S. Fatehi and M. R. Wagner, Crowdfunding via revenue-sharing contracts, Manufacturing & Service Operations Management, 21 (2019), 875-893. [9] G. Ferrer and J. M. Swaminathan, Managing new and remanufactured products, Management Science, 51 (2006), 15-26. [10] H. Fu, M. Liu and B. Chen, Supplier's investment in manufacturer's quality improvement with equity holding, J. Ind. Manag. Optim., 17 (2021), 649-668.  doi: 10.3934/jimo.2019127. [11] Y. Gerchak and Y. Wang, Revenue-sharing vs. wholesale-price contracts in assembly systems with random demand, Production & Operations Management, 13 (2009), 23-33. [12] D. Gong, S. Liu, J. Liu and L. Ren, Who benefits from online financing? A sharing economy e-tailing platform perspective, International Journal of Production Economics, 222 (2020), 107490, 1–10. doi: 10.1016/j. ijpe. 2019.09.011. [13] X. Guo, L. Cheng and J. Liu, Green supply chain contracts with eco-labels issued by the sales platform: Profitability and environmental implications, International Journal of Production Research, 58 (2020), 1485-1504.  doi: 10.1080/00207543.2019.1658911. [14] A. Hagiu and J. Wright, Marketplace or reseller?, Management Science, 61 (2016), 184-203. [15] Z. Hong and X. Guo, Green product supply chain contracts considering environmental responsibilities, Omega, 83 (2019), 155-166. [16] Z. Hong, H. Wang and Y. Gong, Green product design considering functional-product reference, International Journal of Production Economics, 210 (2019), 155-168. [17] B. Jiang, K. Jerath and K. Srinivasan, Firm strategies in the 'mid tail' of platform-based retailing, Marketing Science, 30 (2011), 757-775. [18] Y. Kwark, J. Chen and S. Raghunathan, Platform or wholesale? A strategic tool for online retailers to benefit from third-party information, Mis Quarterly, 41 (2017), 763-785.  doi: 10.25300/MISQ/2017/41.3.05. [19] F. Li, C. T. Du and Y. Wei, Offensive pricing strategies for online platforms, International Journal of Production Economics, 216 (2019), 287-304. [20] Y. F. Lim, Y. Wang and Y. Wu, Consignment contracts with revenue sharing for a capacitated retailer and multiple manufacturers, Manufacturing & Service Operations Management, 17 (2012), 527-537. [21] Z. Liu, T. D. Anderson and J. M. Cruz, Consumer environmental awareness and competition in two-stage supply chains, European J. Oper. Res., 218 (2012), 602-613.  doi: 10.1016/j.ejor.2011.11.027. [22] B. Mantin, H. Krishnan and T. Dhar, The strategic role of third-party marketplaces in retailing, Production & Operations Management, 23 (2015), 1937-1949. [23] Y. Ozinci, Y. Perlman and S. Westrich, Competition between organic and conventional products with different utilities and shelf lives, International Journal of Production Economics, 191 (2017), 74-84. [24] K. Panos, T. Danko and W. Zhao, Supply chain contracting in environments with volatile input prices and frictions, Manufacturing & Service Operations Management, 20 (2018), 130-146. [25] P. Roma, U. Panniello and G. Lo Nigro, Sharing economy and incumbents' pricing strategy: The impact of airbnb on the hospitality industry, International Journal of Production Economics, 214 (2019), 17-29. [26] J. K. Ryan, D. Sun and X. Zhao, Coordinating a supply chain with a manufacturer-owned online channel: A dual channel model under price competition, IEEE Transactions on Engineering Management, 60 (2013), 247-259. [27] L. Sun, R. H. Teunter, M. Z. Babai and G. Hua, Optimal pricing for ride-sourcing platforms, European J. Oper. Res., 278 (2019), 783-795.  doi: 10.1016/j.ejor.2019.04.044. [28] C. Wang, X. Fan and Z. Yin, Financing online retailers: Bank vs. electronic business platform, equilibrium, and coordinating strategy, European J. Oper. Res., 276 (2019), 343-356.  doi: 10.1016/j.ejor.2019.01.009. [29] D. Wu, L. Yang and D. L. Olson, Green supply chain management under capital constraint, International Journal of Production Economics, 215 (2019), 3-10. [30] T. Wu, M. Zhang, X. Tian, S. Wang and G. Hua, Spatial differentiation and network externality in pricing mechanism of online car hailing platform, European J. Oper. Res., 219 (2020), 275-283. [31] X. Wu, Z. Fan and B. Cao, Cost-sharing strategy for carbon emission reduction and sales effort: A Nash game with government subsidy, J. Ind. Manag. Optim., 16 (2020), 1999-2027.  doi: 10.3934/jimo.2019040. [32] S. Xiao, S. P. Sethi, M. Liu and S. Ma, Coordinating contracts for a financially constrained supply chain, Omega, 72 (2017), 71-86. [33] B. Yalabik and R. J. Fairchild, Customer, regulatory, and competitive pressure as drivers of environmental innovation, International Journal of Production Economics, 131 (2011), 519-527. [34] X. Yan, H. Zhao and K. Tang, Requirement or promise? An analysis of the first-mover advantage in quality contracting, Production & Operations Management, 24 (2015), 917-933.  doi: 10.1111/poms.12315. [35] Y. Yan, R. Zhao and Z. Liu, Strategic introduction of the marketplace channel under spillovers from online to offline sales, European J. Oper. Res., 267 (2018), 65-77.  doi: 10.1016/j.ejor.2017.11.011. [36] H. Yang and W. Chen, Retailer-driven carbon emission abatement with consumer environmental awareness and carbon tax: Revenue-sharing versus cost-sharing, Omega, 78 (2018), 179-191. [37] A. Yenipazarli, Managing new and remanufactured products to mitigate environmental damage under emissions regulation, European J. Oper. Res., 249 (2016), 117-130.  doi: 10.1016/j.ejor.2015.08.020. [38] J. Zhang, Q. Cao and X. He, Contract and product quality in platform selling, European J. Oper. Res., 272 (2019), 928-944.  doi: 10.1016/j.ejor.2018.07.023. [39] L. Zhang, J. Wang and J. You, Consumer environmental awareness and channel coordination with two substitutable products, European J. Oper. Res., 241 (2015), 63-73.  doi: 10.1016/j.ejor.2014.07.043. [40] M. Zhang, J. Zhang, T. C. E. Cheng and G. Hua, Why and how do branders sell new products on flash sale platforms?, European J. Oper. Res., 270 (2018), 337-351.  doi: 10.1016/j.ejor.2018.02.051. [41] X. Zhao, Coordinating a supply chain system with retailers under both price and inventory competition, Production & Operations Management, 17 (2008), 532-542. [42] W. Zhu and Y. He, Green product design in supply chains under competition, European J. Oper. Res., 258 (2017), 165-180.  doi: 10.1016/j.ejor.2016.08.053.
The impact of $\lambda$ on decision variables
The impact of $\lambda$ and $\theta$ on balance profit
The impact of $\theta$ on supply chain performance
The impact of $\theta$ on supply chain performance
Notations
 Variables Description $U$ The utility that a consumer derives from the product $V$ The consumer's utility from the product functional attributes $p_{i}$ The unit retail price of the product under different scenarios, which is a decision variable of the retailer, where $i=NI,RI,PI$ $c$ The unit cost of the product $\lambda$ Consumer sensitivity to the quality-improvement product $e_i$ The product quality-improvement level, which is a decision variable of the retailer or platform, where $i=RI,PI$ $k$ The product quality-improvement cost parameter of the retailer $\beta$ The product quality-improvement cost parameter of the platform $\theta$ The profit-sharing ratio given by the platform $\pi_i$ The retailer's profit, where $i=NI,RI,PI$ $\Pi_i$ The platform's profit, where $i=PI$
 Variables Description $U$ The utility that a consumer derives from the product $V$ The consumer's utility from the product functional attributes $p_{i}$ The unit retail price of the product under different scenarios, which is a decision variable of the retailer, where $i=NI,RI,PI$ $c$ The unit cost of the product $\lambda$ Consumer sensitivity to the quality-improvement product $e_i$ The product quality-improvement level, which is a decision variable of the retailer or platform, where $i=RI,PI$ $k$ The product quality-improvement cost parameter of the retailer $\beta$ The product quality-improvement cost parameter of the platform $\theta$ The profit-sharing ratio given by the platform $\pi_i$ The retailer's profit, where $i=NI,RI,PI$ $\Pi_i$ The platform's profit, where $i=PI$
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