Dynamic pricing is a pricing and profit strategy that businesses use to sell to different groups of people, a tactic that’s tied into supply and demand, with a lot of emphasis on demand. Or put another way, “Dynamic pricing is a computer algorithm that balances supply and demand in response to what people are willing to pay. How is it being used? . Happy hours at bars is a form of dynamic pricing – letting customers know that if they come in during a less crowded and demanding time, they’ll be rewarded with cheaper drinks. In other cases though, charging higher prices for parking when events are going on, or higher prices for concert tickets when demand is high, these can get expensive. Learn more about dynamic pricing by going to yoursafemoneyshow.com.
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