Research on Price Adjustment Strategy of General Speed Railway Based on Price Elasticity of Demand

Adjusting ticket price according to the relationship between market supply and demand is an effective way to realize the rational utilization of railway resources and the maximization of transportation income. In this paper, the travel purpose, monthly income, average number of trips per year, and whether the ticket price is reimbursed are selected as four indicators, and k-means algorithm is applied to subdivide the passenger market between Beijing and Nanjing section, and finally five types of passengers are obtained. Based on the questionnaire data, the demand price elasticity of general speed railway passenger transport products in different passenger markets is measured, and the function fitting is used to determine the functional relationship between the price adjustment range and the demand price elasticity. Finally, the optimal pricing model based on the demand price elasticity is used to calculate the optimal price adjustment range of various transport products for different passengers. The results provide reference for price adjustment of general - speed railway passenger products.