Optimal Multiple Attribute Decision Model for Key Parameters of Online Group Buying Product

Shen-Tsu Wang, Meng-Hua Li and Chun-Chi Lien
Additional contact information
Shen-Tsu Wang: Department of Commerce Automation and Management, National Pingtung University, No.51, Minsheng E. Rd., Pingtung City, Pingtung County 90004, Taiwan
Meng-Hua Li: Department of Industrial Management & Institute of Industrial Engineering and Management, National Formosa University, Huwei, Yunlin 63201, Taiwan
Chun-Chi Lien: Department of Business Administrator, National Chung Hsing University, Taichung City 402, Taiwan

Mathematics, 2019, vol. 7, issue 10, 1-21

Abstract: The rise of the internet has led to rapid development of online group buying, and with the various functions and analysis tools provided on the internet, consumers are making more purchases than ever before. In addition to attracting consumers to buy products or services via online shopping platforms, the industry’s online group buying market allows customers to enjoy preferential prices together. Consumers can bargain through large-scale purchases. Through quantity-based pricing, the effect of the decline on consumers’ expected price will be enhanced, and consumers will be able to purchase products at lower prices, which encourages more consumers to join group buying schemes. In terms of product cost, online shopping operations enable manufacturers to save shop setup and inventory costs, and some of these cost savings may be reflected in the selling price, which can enable customers to obtain products at lower prices. The grey decision model is used for further in-depth exploration. The purpose of this study is to use the grey correlation ranking and grey multi-attribute decision-making (TOPSIS) process to further determine the optimal shelf-time, inventory quantity, and selling price (key parameters) of commodities, in order to design a plan that makes maximum profit for the industry and provides the best service to customers.

Keywords: online group buying; grey correlation ranking; grey multi-attribute decision-making; key parameters (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/2227-7390/7/10/906/pdf (application/pdf)
https://www.mdpi.com/2227-7390/7/10/906/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jmathe:v:7:y:2019:i:10:p:906-:d:271447

Access Statistics for this article

Mathematics is currently edited by Ms. Emma He

More articles in Mathematics from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().