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Dynamic pricing refers to a strategy in which businesses adjust the prices of their products or services in real time or over short intervals, based on various factors such as market demand, customer behavior, competitor pricing, inventory levels, time of day, or seasonal trends. Unlike static pricing, where the price remains constant for a prolonged period, dynamic pricing allows organizations to respond flexibly to market conditions, maximize revenue, and optimize resource utilization. It is widely used in industries like airlines, hospitality, e-commerce, ride-sharing services, and event ticketing, where demand fluctuates significantly and timely pricing decisions can have a ____ _______ _________ ____ _______.
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