A method of pricing a product in which the same product is supplied to different customers, or different market segments, at different prices. This approach is based on the principle that to achieve maximum market penetration, the price charged should be what a particular market will bear.
Dynamic pricing, also known as real-time pricing or surge pricing, is a strategy where the price of a product or service fluctuates based on market demands, customer segments, time, and other variable factors.
Revenue management, also known as yield management, employs sophisticated algorithms and data analysis to forecast demand and adjust pricing dynamically, optimizing revenue for industries with fixed and perishable resources.
Variable pricing refers to a marketing strategy that allows different prices to be charged to different customers or at different times. This strategy is common among industries like airlines, hotels, and certain niche market sellers.
Yield management, also known as revenue management, is a strategy used in various industries to optimize income and profit through dynamic pricing and resource allocation.
