Chapter 3 Dynamic Pricing ProcessHow to Transition from Fixed to Dynamic Pricing?
Arnd Vomberg
Overcoming the paradigm of fixed prices
Changes in the way companies set their prices have been at the center of interest for the last decade. Readers of the Wall Street Journal most likely have witnessed headlines such as these:
- ‘Coming Soon Toilet Paper Priced Like Airline Tickets’ (Angwin & Mattioli, 2012),
- ‘The High-Speed Trading Behind Your Amazon Purchase’ (Mims, 2017), and
- ‘Now Prices Can Change from Minute to Minute’ (Nicas, 2015).
Those headlines address an essential manner in which companies nowadays set their prices: companies increasingly break with last century’s norm of fixed prices and move to dynamic ...
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