Smart pricing is a dynamic concept but is simple to understand. Basically, it is a strategy that makes the price of any item in the online marketplace go up or down depending upon a few factors. Let us take a look at those factors:
- The pricing could change due to lower prices offered by competitors.
- It could change due to the cost of production, which fluctuates from time to time.
- Prices of goods can also change depending on the distribution network available and used for transportation and delivery.
- Customers also have a role to play in this. Intelligent pricing is always made keeping in mind the end-consumer – his spending ability and mindset. Read more
here to learn about the demographic details of Indian online buyers.