dynamic pricing Archives - Pricing Articles from Professional Pricing Society

7 Lessons on Dynamic Pricing (Courtesy of Bruce Springsteen)

Some fans were outraged when man-of-the-people Bruce Springsteen charged more than $5,000 per seat for his upcoming concert. The high prices were the result of a dynamic pricing system, in which prices are adjusted upward in response to strong demand. This controversy illustrates seven lessons that managers should keep in mind when adjusting prices, including the need for clear communications, longtime customers’ expectation that they deserve a discount, and the fact that high prices will raise expectations about quality and service.

By admin|2023-02-24T17:58:24+00:00February 28, 2023|Consumer Pricing, Dynamic Pricing, Pricing Articles|0 Comments

Introduction to B2B Dynamic Pricing

Machine Learning-based dynamic pricing allows B2B enterprises to better leverage opportunities and improve growth margins. However, certain factors must be taken into consideration for the model to work effectively. In this article, the author explores the growth potential, challenges, and pitfalls of B2B dynamic pricing, and outlines why, how, and when B2B dynamic pricing should be developed and employed for commercial excellence.

By admin|2022-10-27T20:57:57+00:00March 31, 2022|B2B Pricing, Dynamic Pricing, Pricing Articles|0 Comments

Should You Be Concerned about Price Collusion? – Machine Intelligence

While the technology may not be in place to make price collusion a reality, price discrimination is certainly happening and is something that consumers should be aware of. To avoid being duped into paying higher prices because of location, net worth, past shopping history, etc., consumers must shop wisely, protecting as much of their purchase behavior as possible. Now more than ever, it’s important to take the time to research and compare in order to get the best possible price, as the author explains.

By admin|2022-03-23T21:07:25+00:00November 30, 2021|Machine Intelligence, Pricing Articles|0 Comments

Debunking the Myths of Dynamic Pricing

Companies can generate higher revenue and margins by implementing a more dynamic approach to pricing. The first critical step is for companies to see through the myths around dynamic pricing, which will help provide the ambition and the direction to start their journey.

By admin|2022-04-08T16:56:08+00:00June 30, 2021|Dynamic Pricing, Journal of Professional Pricing, Pricing Articles|0 Comments

Bionic Revenue Management in Travel and Tourism

In this article, the authors provide data-driven strategies to help companies readjust their pricing strategies during these challenging times. Although focused primarily on travel and tourism industries, this article provides pricing insights that can be applied in multiple business markets and types.

By admin|2022-03-24T23:11:57+00:00April 30, 2021|Dynamic Pricing, Pricing Articles|0 Comments

How to Navigate a Crisis and Keep Branding Intact with Pricing

How should businesses respond to a crisis, such as the current global COVID-19 situation? In times of crisis, we often see consumer backlash against companies perceived to be employing price gouging in order to capitalize on crisis supply and demand changes. But when are dynamic pricing techniques and price increase actually price gouging? In this article, we explore price gouging and dynamic pricing strategies and how they affect consumers' brand perception.

By admin|2022-04-12T20:52:09+00:00April 30, 2020|Consumer Pricing, Dynamic Pricing, Pandemic Pricing, Pricing Articles|0 Comments

The Next Lesson From Amazon: Push Your Customer’s Cart

In their recently announced move into retail grocery stores, an expansion of their existing online grocery purchase and delivery services, Amazon once again demonstrates how its primary focuses when expanding its business are unique positioning for each brand and unique value for each brand. Can you say this about your product lines and their positioning and value? Does your pricing reflect this? If not, it may be time to shift focus and resources towards addressing these areas, as the author explains.

By admin|2022-05-14T18:17:23+00:00June 30, 2019|CPG Pricing, Dynamic Pricing, Pricing Articles|0 Comments

Your brand can learn a lot from how MLB changed how it sells tickets

Baseball’s innovations in pricing and selling tickets are pertinent to many industries because they take under-utilized or non-utilized assets based on the understanding of customers’ needs and willingness to pay, plus the contribution margin that comes along with value added services, which creates revenue and profit streams where none existed before, as the author explains.

By admin|2022-05-14T18:10:17+00:00June 30, 2019|Customer Pricing, Dynamic Pricing, Pricing Articles, Product Pricing|0 Comments

6 eCommerce Pricing Experiments That You Can Run Today

Bryan Eisenberg recently published the book “Be Like Amazon: Even a Lemonade Stand Can Do It” (co-authored by Jeffrey Eisenberg and Roy H. Williams) outlining some of the eCommerce giant’s most successful strategies. In this article, the author explores some of Amazon’s pricing strategies outlined in the book, and provides tips for how eCommerce pricers can implement these strategies in their own pricing tests.

By admin|2022-05-14T20:23:02+00:00March 31, 2019|Dynamic Pricing, eCommerce Pricing, Pricing Articles|0 Comments

Dynamic pricing: Next maturity phase has started, how to avoid pitfalls?

Dynamic pricing has been growing significantly in recent years, notably in the travel and online retail industries. Would this pricing strategy benefit your company’s products? In this article, the authors review common mistakes to avoid when moving to dynamic pricing and best practices for implementing dynamic pricing within your organization.

By admin|2023-10-29T21:15:49+00:00October 31, 2018|Dynamic Pricing, Pricing Articles|0 Comments

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This site provides access to archived articles from the Pricing Advisor newsletter, the Journal of Professional Pricing, our pricing blog, pricing research reports, and other resources for pricing professionals.