Open AccessOn the Future of Pricing
Author(s) -
Hermann Simon
Publication year - 2021
Publication title -
international business and economics studies
Language(s) - English
Resource type - Journals
eISSN - 2640-9860
pISSN - 2640-9852
DOI - 10.22158/ibes.v4n1p8
Subject(s) - pricing strategies , the internet , variable pricing , profit (economics) , big data , business , marketing , industrial organization , economics , computer science , microeconomics , world wide web , operating system
Price is the most effective profit driver. In recent years we have seen a wave of innovations in pricing driven by technology. The internet, big data, and artificial intelligence enable the implementation of complex price structures, individualized pricing, ongoing time-based adjustments and performance-based pricing. Prices are increasingly expanding into areas such as the environment, traffic, social services and education. Pricing such services may be politically expedient but can lead to social tensions.