Dynamic pricing is all the rage, but is just one tactic amongst many. David Reece explains how organisations can benefit by placing dynamic pricing in a wider context.
Dynamic pricing involves adjusting prices as patterns of demand unfold, raising prices and/or increasing the amount of inventory at particular prices when demand is strong. Some organisations also use dynamic pricing to reduce prices to stimulate sales when there is a strong demand at lower prices, but little demand at higher prices.
A strategy focused on dynamic pricing alone misses much of the potential opportunity to be realised from pricing
In either case, planning your... more
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