Dynamic Pricing

Price Setting (Pricing)
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A Kahnesky
Analyst, Denmark
WHAT IS DYNAMIC PRICING? INTRODUCTION Dynamic Pricing or Surge Pricing or Demand Pricing or Time-based Pricing is a pricing strategy. It is used when a company or store continuously wants to adjusts its prices throughout the day. The goal of these price changes is mainly two fold: on one hand, companies want to optimize for margins, and on the other they want to increase their chances of sales. It is based on Discriminatory Pricing, which allows changing prices based on the supply and demand, time, competitor's prices, customers, or other external factors. Dynamic Pricing typically uses computers and business analytics to model and forecast these factors to change the prices of products & services dynamically. A popular example of Dynamic Pricing is ride-hailing services such as Uber, which changes the price for a route based on the demand and time of the day. But airlines are well known to sell seats at dynamic prices for many years. Dynamic pricing used to be a normal pricing mecha (...) Read more? Sign up for free

  Jaap de Jonge
Editor, Netherlands
 

Dynamic Pricing is not Price Gouging

Price gouging occurs when a seller increases the p (...)

 

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