Dynamic Pricing Systems
Dynamic pricing is defined as the buying and selling of goods and services in free markets where the prices fluctuate in response to supply and demand and changing. This course illustrates the difference between static and dynamic pricing, and covers various dynamic pricing models and methodologies for successful pricing. This course also illustrates the fact that effective pricing optimization is based on modeling of demand and elasticity of demand at a very granular level. It will explore various dynamic pricing models and explore and identify factors relevant in choosing dynamic pricing models that best support the operational effectiveness, external environment and business strategy of a particular firm.