Time-Based Pricing

Time-Based Pricing is a strategy where the cost of a service or product varies depending on the time it is used or purchased. For example, a gym might charge lower rates during off-peak hours and higher rates during busy times. Similarly, airlines often adjust ticket prices based on the time of booking and travel. This approach helps businesses optimize revenue by encouraging customers to use their services when demand is lower and maximizing profit during peak periods. It benefits consumers by offering more affordable options during less busy times, while businesses better manage capacity and revenue.