Marketing - What is Dynamic Pricing Strategy? | From A Business Professor

Do you know that the price of a product you're about to buy could change in just a few minutes? Imagine catching a ride with Uber during a rainstorm and noticing surge pricing, or scoring a great deal on an airline ticket just a day before your trip when demand drops. From the fluctuating prices of Amazon's vast inventory to the ever-changing rates of hotel rooms and ride-sharing services, dynamic pricing is all around us. So what exactly is it? What are its features? What are the real world examples? What types of products or services fit well with this strategy, and does it have any limitations? In this video, I will discuss these questions with you.