You could just look up the terms, and what they mean.
Businesses don't like to be accused, even in the general, of criminal practices.
Dynamic pricing helps us get through to customers things that just telling them doesn't.
They get used to using up resources and having collective pricing cover their personal desires. But companies have to compete, so the collective pricing allows them to use high demand for high pricing and low demand for low pricing in a manner that seeks to balance the difference.
For instance...
In my world, white/white windows 4-6 weeks... black/black 13-18 weeks.
The industry stopped trying to fill the demand for black/black at a cost to the customers that were looking for the more basic white/white.
The difference in pricing is also now remarkable.
For the music medium, it used to be how close to the stage you got. Now the demand in certain instances are so high... especially for specific dates/times... they make the dynamic adjustment to fill the seats on the dates/times that would not be full.
Restaurants are also looking at some of that dynamic, but do it with specials for times that are slow. What the restaurant doesn't make during the specials, it needs to make during the other occasions to keep the doors open.
Even the concept of ''loss leaders'' in retail seems to no longer work with the modern internet allowing people to quickly cross shop.
|