Dynamic Pricing Definition and Explanation PDF Download
Learn Dynamic Pricing definition in marketing with explanation to study “What is Dynamic Pricing”. Study dynamic pricing explanation with marketing terms to review marketing course for online MBA programs.
Dynamic Pricing Definition:
Adjusting prices continually to meet the characteristics and needs of individual customers and situations.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Dynamic Pricing Explanation:
Dynamic pricing is a pricing strategy in which companies set flexible prices for goods and services. Companies usually reset prices based on algorithms that take into account competitor's pricing strategy. This pricing strategy is one of the common practices in several industries. For instance, entertainment, travel, hospitality, public and electricity.
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