noun a pricing strategy where prices are adjusted in real-time based on various factors such as demand, competition, and other market conditions
Dynamic pricing is utilized in the hospitality industry to set room rates based on factors like seasonality, demand, and events happening in the area.
Dynamic pricing is prevalent in transportation services such as airlines and ride-sharing platforms to adjust fares based on factors like time of day, demand, and availability of drivers.
In retail, dynamic pricing is used to optimize pricing strategies and maximize profits by adjusting prices based on various factors such as inventory levels and customer behavior.
Dynamic pricing is commonly used in e-commerce to adjust prices in real-time based on demand, competition, and other market factors.
In online advertising, dynamic pricing is used to adjust the cost per click or impression based on factors like keyword popularity, competition, and target audience.
SaaS companies often use dynamic pricing to offer different pricing tiers and adjust prices based on usage or features added by the customer.
Dynamic pricing can be used by writers to adjust the prices of their books or freelance writing services based on demand, competition, or other market factors.
Psychologists can use dynamic pricing to offer different rates for therapy sessions based on the client's ability to pay, the type of therapy required, or the time of day for the appointment.