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What Consumers -- and Retailers -- Should Know about Dynamic Pricing
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******************************** What Consumers -- and Retailers -- Should Know about Dynamic Pricing http://knowledge.wharton.upenn.edu/index.cfm?fa=viewfeature&id=1245 According to a recent study, 64% of consumers who shop on the Internet do not know that "it is legal for an online store to charge different people different prices at the same time of day." Yet dynamic pricing is not new. Retailers have been using it for years in ways that benefit not just themselves but also their customers. The challenge is to establish dynamic pricing in ways that lead to profitability rather than price wars. As one expert noted, companies should "engage in flexible pricing practices in order to honor their responsibilities to their shareholders. If retailers charge a flat, low price to make everyone happy, they're leaving a lot of money on the table."
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