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What is dynamic pricing ?
Dynamic pricing is a pricing strategy used by companies to increase sales and profits. It involves setting different prices for different customers based on market conditions, customer preferences, and demand. Companies use dynamic pricing to stay competitive and maximize their profits. Dynamic pricing allows companies to adjust their prices in response to market conditions, including changes in demand, supply, and competition. This allows companies to be more responsive to customer needs and to better manage their pricing strategies. By using dynamic pricing, companies can better manage their revenue and profits, as well as better manage their inventory and marketing costs. Dynamic pricing also allows companies to better anticipate customer demand and adjust their prices accordingly. In addition, dynamic pricing can help companies better manage their customer relationships and provide better customer service. In summary, dynamic pricing is a pricing strategy used by companies to increase sales and profits by responding to market conditions, customer preferences, and demand.
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