Smart Pricing

Smart pricing is a strategy where prices are adjusted dynamically based on factors like demand, competition, and customer behavior. Instead of setting a fixed price, businesses use data and algorithms to modify prices in real-time, aiming to maximize revenue or market share. This approach helps companies respond quickly to market changes, attract customers during slow periods, and optimize profitability without manual intervention. It’s commonly used in industries like airlines, hospitality, and online retail, where prices can fluctuate frequently based on strategic considerations and market conditions.