As an Amazon Associate I earn from qualifying purchases.

What is Dynamic Pricing in Marketing? 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.

Keep Learning Marketing Explanations

What are Threats?

A threat is an imparted aim to cause mischief or misfortune on someone else. Terrorizing is generally seen in creature ...

What is Adoption?

Adoption is a process in which consumer switch or adopt any new product or service. Either, the consumer has been ...

What is Maturity Stage?

During the development organize, deals will crest as the item arrives at market immersion, and rivalry will become progressively wild. ...

What is Price Discrimination?

Value separation is a selling methodology that charges clients various costs for a similar item or administration, in view of ...

What is Risk Analysis?

Risk investigation is the way toward distinguishing and breaking down potential issues that could contrarily effect key business activities or ...

What is Cultural Environment?

A cultural environment is a set pattern of beliefs, tradition, customs, norms, and practices which are similar to the people ...