Chapter 8

Pricing strategies: dynamic pricing

Your pricing strategy is the choice you make about how much to charge customers for your product or service. It is a key element of the marketing mix, and it needs to be consistent with all the other elements of the mix (product, place, promotion) to ensure that the product/service has the best chance of success in a competitive market-place.

Dynamic pricing is a specific pricing strategy that allows you to change your prices rapidly in response to variations in demand.

When to use it

  • To decide how much to charge for a new product or service.
  • To understand the pricing choices made by your competitors.
  • To identify opportunities to make additional profits for your firm.
  • To adapt your prices in response ...

Get 25 Need-to-Know MBA Models now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.