A digital marketing leader in Europe, Magnus and I did a quick interview about dynamic pricing, AI and what it means to marketers. We also talked a bit about how people use Perfect Price.
Have you ever wondered, what would happen if we made a big change to pricing? I don't mean try ending a few prices in $0.99 or $0.95. No. I mean changing everything!
Ever wonder why some companies can charge different prices at different time–like United Airlines, or Uber–while others, like Walgreens, don't? Academcis have long had 5 tests to determine if dynamic pricing could work for an industry. With machine learning, we're reducing that to just 2. Read on to learn what separates dynamic industries from those stuck in the 20th century.
Many people think dynamic pricing is crazy–witness this 50x surge Uber once saw. At today's exchange rate, that 425 KR is $50 USD–per minute. But is customer reaction to this the biggest challenge?