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Index
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decades. But now...
Shopping bots roam the Net, constantly looking for the lowest prices.
Communication is instantaneous and free -- we can all talk with each other.
Competing merchants can peek into competitors’ prices, not just in the next stall
at the market but around the world, with the click of a mouse. Supply and
demand ebbs and flows.
And it can all be measured in real-time. Yes, the very nature of the Internet
is replacing fixed pricing with dynamic models. Consider these examples of
dynamic e-commerce on the Net...
• Group buying sites like mercata.com put pressure on prices.
• More and more B2B (business to business) sites are using a variety of
auction formats (ex., Dutch auctions, reverse auctions) and exchanges to
price products.
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Make Your Price Sell!
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• C2C (consumer to consumer) sites like eBay use auctions to create amazing,
rich technicolor marketplaces.
At this point in the Digital Revolution, fixed pricing still rules in straight one-onone,
customer-vendor, transaction-based sites. Companies like Priceline.com,
where customers can “name their own price,” are the exceptions that prove the
rule.
But the reign of the fixed price will not last for long.
Efficiency has been, and always will be, the bottom line requirement for a
successful business. Fixed pricing worked before because it was simply the
most efficient way to handle matters, given the technology at the time.
Mass marketing simply did not allow for any kind of dynamic pricing. Imagine
Wal-Mart haggling over the price of that $29.99 shirt, and for every other item
sold. Imagine constantly balancing supply and demand for their millions of
items in stock. No way.
A far more efficient way to sell, for both merchant and vendor, is through
dynamic pricing. With dynamic pricing, the price fluctuates according to supply
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