In an effort to be more competitive, many companies are turning to dynamic pricing, or variable pricing based on demand. This practice has been used in industries such as airlines and hotels for years, but is now being adopted by companies in other industries such as retail and food services. Dynamic pricing can be a great way to increase profits, but it can also be a risky proposition. If not done correctly, it can alienate customers and damage your brand. In this article, we'll take a look at some of the pros and cons of dynamic pricing, and give you some tips on how to implement it in your business.
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