How does a dynamic pricing algorithm work?
Asked 4 years ago
Hi, does anyone here use dynamic pricing as their strategy and know what determines the pricing for a customer?
Paul Baxter
Tuesday, February 22, 2022
Dynamic pricing means varying the product's price as per market conditions, customer base, and demand. Since this pricing method does not need setting a fixed price, you can vary your pricing for a customer depending on your product's value, customers' shopping habits, and buying power. You must also consider the production cost, market trends, and the historical performance of the product.
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