Personalized Pricing and Price Discrimination

Price Setting (Pricing)
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Parag Utekar
Student (MBA), India
🔥NEW Major online companies like Google process a large amount of users' data, which is commonly known as "Big Data." This includes a lot of information, like past purchase behavior, list of websites visited, geolocation, emails and search results among many other things. With improved technology, these companies can process millions of data points, build individual profiles, and predict online consumer behaviour. And they can use this information to advertise a specific product to a consumer or to predict customer behaviour online. Furthermore, the platform can rely on the gathered data to persuade customers to buy products on special discounts or buying conditions; this special price might not be available to other consumers. Personalized Pricing is a consequence of the availability of an increasing amount of data collected by companies. In today's times, online platforms might not always determine the willingness to pay of an individual correctly. But, big data does allow online platf (...) Read more? Sign up for free


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