Iranian Institute of Industrial Engineering Journal of Industrial and Systems Engineering 1735-8272 14 Special issue: 18th International Industrial Engineering Conference 2022 01 27 Optimal pricing of a new generation product when customers are strategic 1 10 143883 EN Somayeh Najafi Ghobadi Department of Industrial Engineering, Factually of Engineering, Kermanshah Branch, Islamic Azad University, Kermanshah, Iran Journal Article 2021 11 17 In this research, we develop a mathematical model for new generation products in the presence of strategic customers.  A firm that produces and sells a two-generation product is considered. It is assumed that potential customers of the first generation are strategic and may delay their purchase to the next generation. The firm aims to determine the optimal price by maximizing total profit. The optimal control theory is used for analyzing the proposed model. The results reveal that strategic behavior influences pricing strategy and reduces optimal price and firm’s profit. https://www.jise.ir/article_143883_2bf49e8b96ac351b866d648b63a6d349.pdf