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blinded to traditional business practices and fixed pricing models. The Digital
Revolution is about to change that reality with the introduction of “dynamic ecommerce.”
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Make Your Price Sell!
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Dynamic e-commerce can be defined as online buying and selling of goods
and services through flexible pricing models that allow prices to change over
time. The price is driven by supply and demand.
As mentioned earlier , a very low-tech kind of dynamic pricing took place
prior to the Industrial Revolution. At that time, a far greater percentage of the
population were farmers. Cities were relatively much smaller. Markets were
small and local.
Goods were priced by haggling and through a simple “exchange” process.
Vendors could see competing vendors' prices for potatoes, balance that against
buyer demand and their own supplies, and, constantly adjust their prices
accordingly.
The Industrial Revolution, however, brought mass manufacturing and mass
marketing. Fixed pricing was more suitable for mass marketing and, as a
result, it replaced the previously dynamic relationship between the buyer and
seller.
What’s a “fixed price,” you ask? It’s how most products are priced today.
Merchants set a price and they don't change it. For example...
Want that shirt? Wal-Mart sells it for $29.99. Same price in Los Angeles as in
New York. It might be a slightly different price at Sears -- but it would be the
same price at every store in each chain, from Miami to Montreal. And it would
be the same price tomorrow and the next week (except for the occasional sale
or promotion, at a new fixed price).
The fixed price will be seen as a brief blip in the history of business. Pricing
was dynamic for thousands of years. Fixed pricing took over for several