Customizing Prices in Online Markets | Zendy

Werner Reinartz | Zendy

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Customizing Prices in Online Markets

Author(s) -

Werner Reinartz

Publication year - 2002

Publication title -

symphonya emerging issues in management

Language(s) - English

Resource type - Journals

eISSN - 1593-0319

pISSN - 1593-0300

DOI - 10.4468/2002.1.05reinartz

Subject(s) - dynamic pricing , personalization , value (mathematics) , variable (mathematics) , the internet , business , variable pricing , microeconomics , marketing , industrial organization , economics , computer science , world wide web , mathematical analysis , mathematics , machine learning

Dynamic pricing is the dynamic adjustment of prices to consumers depending on the value these customers attribute to a good. Underlying the concept of dynamic pricing is what marketers call price customization. Price customization is the charging of different prices to end consumers based on a discriminatory variable. Internet technology will serve as a great enabling tool for making dynamic pricing accessible to many industries

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