Customizing Prices in Online Markets
Keywords:Online Markets, Customizing Prices, Customization, Market Segmentation, Cost of Segmenting, Cost of Policing, Dynamic Pricing
Dynamic pricing is the dynamic adjustment of prices to consumers depending on the value these customers attribute to a good.
Underlying the concept of dynamic pricing is what marketers call price customization. Price customization is the charging of different prices to end consumers based on a discriminatory variable.
Internet technology will serve as a great enabling tool for making dynamic pricing accessible to many industries.
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