Search results
Results from the WOW.Com Content Network
Dynamic pricing, also referred to as surge pricing, demand pricing, or time-based pricing, and variable pricing, is a revenue management pricing strategy in which businesses set flexible prices for products or services based on current market demands. It usually entails raising prices during periods of peak demand and lowering prices during ...
But in the era of AI, surge pricing — or “dynamic pricing,” for those in the business — is becoming a more common tool to help companies pad their margins and, in theory, give a discount ...
Pricing strategies and tactics vary from company to company, and also differ across countries, cultures, industries and over time, with the maturing of industries and markets and changes in wider economic conditions. [2] Pricing strategies determine the price companies set for their products. The price can be set to maximize profitability for ...
Revenue-oriented pricing: (also known as profit-oriented pricing or cost-based pricing) - where the marketer seeks to maximize the profits (i.e., the surplus income over costs) or simply to cover costs and break even. [3] For example, dynamic pricing (also known as yield management) is a form of revenue oriented pricing.
Dynamic pricing is when ticket prices are increased on primary selling sites – such as Ticketmaster – based on demand. In the case of the recent Oasis ticket sales, customers queued for hours ...
In concrete terms, this can mean that retailers use competitor monitoring, dynamic pricing, price monitoring, and real-time tracking on marketplaces. [ 7 ] Improve in-store experience: Several retailers have taken price intelligence into their stores and empowered their in-store associates to ease the process of price matching requests.
On the flip side, Wall Street remains careful about department stores. "We've been more cautious on department stores," Chen said. "It's been a tougher category."
The use of premium pricing as either a marketing strategy or a competitive practice depends on certain factors that influence its profitability and sustainability. Such factors include: Information asymmetry (e.g., when buyers have no independent basis to test claims of "exceptional quality" for a particular product or service—assuming the ...