In this article, we study the newsvendor problem with endogenous setting of price and quoted lead - time . This problem can be observed in situations where a firm orders semi-finished product prior to the selling season and customizes the product in response to customer orders during the selling season. The total demand during the selling season and the lead - time required for customization are uncertain. The demand for the product depends not only on the selling price but also on the quoted lead - time . To set the quoted lead - time , the firm has to carefully balance the benefit of increasing demand as the quoted lead - time is reduced against the cost of increased tardiness. Our model enables the firm to determine the optimal selling price, quoted lead - time , and order quantity simultaneously, and provides a new set of insights to managers.