Difference between revisions of "Dynamic Pricing Algorithms"
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| − | Dynamic Pricing is a type of pricing method that adjusts prices for items based on real-time market conditions. This is typically achieved by using algorithms inputting variables like competitors' prices, supply and demand quantities, customers' demographics and other personal preferences, seasonal factors, and more<ref>Wakabayashi,Daisuke. (February 6, 2022). [https://www.nytimes.com/2022/02/26/technology/amazon-price-swings-shopping.html "Does Anyone Know What Paper Towels Should Cost?"] ''New York Times''. Retrieved January 25, 2023.</ref>. | + | Dynamic Pricing is a type of pricing method that adjusts prices for items based on real-time market conditions<ref> pwc.de. (June, 2020). [https://www.pwc.de/de/im-fokus/customercentrictransformation/ethical-aspects-of-dynamic-pricing.pdf "Ethical Aspects of Dynamic Pricing"] ''PricewaterhouseCoopers GmbH''. Retrieved January 25, 2023.</ref>. This is typically achieved by using algorithms inputting variables like competitors' prices, supply and demand quantities, customers' demographics and other personal preferences, seasonal factors, and more<ref>Wakabayashi,Daisuke. (February 6, 2022). [https://www.nytimes.com/2022/02/26/technology/amazon-price-swings-shopping.html "Does Anyone Know What Paper Towels Should Cost?"] ''New York Times''. Retrieved January 25, 2023.</ref>. |
Revision as of 23:04, 25 January 2023
Dynamic Pricing is a type of pricing method that adjusts prices for items based on real-time market conditions[1]. This is typically achieved by using algorithms inputting variables like competitors' prices, supply and demand quantities, customers' demographics and other personal preferences, seasonal factors, and more[2].
- ↑ pwc.de. (June, 2020). "Ethical Aspects of Dynamic Pricing" PricewaterhouseCoopers GmbH. Retrieved January 25, 2023.
- ↑ Wakabayashi,Daisuke. (February 6, 2022). "Does Anyone Know What Paper Towels Should Cost?" New York Times. Retrieved January 25, 2023.
