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中文摘要：
考虑存在部分忠诚顾客的情形，构建两期动态定价竞争模型，分析顾客忠诚对竞争企业定价决策的影响．其中，顾客忠诚通过历史交易形成．一个企业的忠诚顾客转向另一个企业时，会产生一定的转移成本．研究发现：当顾客忠诚度在一定范围变化时，每个企业第二期的均衡定价均高于第一期．第一期，两个企业的价格差随着顾客忠诚度的升高而降低，而第二期的情况却相反．高服务质量的企业在两期中总占有定价和市场优势，且顾客对质量敏感度越高，这种竞争优势越明显．
英文摘要：
Concerning the case with some loyal customers, this paper develops a two-stage duopoly pricing model to analyze the impact of customer loyalty on the pricing decision of competing firms. Customer loyalty is built on historical transactions. A loyal customer of one firm incurs switching cost when he shifts to another firm. It is shown that if customer loyalty varies within a certain range, the equilibrium price of each firm in the second period is higher than that in the first period. As customer loyalty increases, the price gap between the two firms increases in the first period but decreases in the second one. The firm with higher service quality always has pricing and market advantages in the two stages, which renders it a distinct advantageous position when the customers are more sensitive to quality.
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