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- What is dynamic pricing strategy with example?
- What is dynamic pricing and when should a company use this strategy?
- How do you explain dynamic pricing is something to do with the law of demand and supply?
What is dynamic pricing strategy with example?
Dynamic pricing — also known as surge pricing, demand pricing, or time-based pricing — is a strategy where businesses adjust the prices of their offerings to account for changing demand. For instance, an airline will shift seat prices based on seat type, number of remaining seats, and time until the flight.
What is dynamic pricing and when should a company use this strategy?
Dynamic pricing, also called real-time pricing, is an approach to setting the cost for a product or service that is highly flexible. The goal of dynamic pricing is to allow a company that sells goods or services over the Internet to adjust prices on the fly in response to market demands.
How do you explain dynamic pricing is something to do with the law of demand and supply?
Dynamic pricing refers to charging different prices for a product or service, depending on who is buying it or when it sells. Dynamic pricing is sometimes called demand pricing, surge pricing, or time-based pricing. And it's a reaction to changes in competition, supply, demand, and other market forces.
