27 Facts About Demand-based pricing

The strategy is designed to provide broad guidance for price-setters and ensures that the Demand-based pricing strategy is consistent with other elements of the marketing plan.

The Demand-based pricing strategy established the overall, long-term goals of the Demand-based pricing function, without specifying an actual price-point.

Tactical Demand-based pricing decisions are shorter term prices, designed to accomplish specific short-term goals.

Complementary Demand-based pricing is an umbrella category of "captive-market" Demand-based pricing tactics.

Contingency Demand-based pricing is the process where a fee is only charged contingent on certain results.

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Contingency Demand-based pricing is widely used in professional services such as legal services and consultancy services.

Discount Demand-based pricing is where the marketer or retailer offers a reduced price.

Geographic Demand-based pricing occurs when different prices are charged in different geographic markets for an identical product.

High-low Demand-based pricing refers to the practice of offering goods at a high price for a period of time, followed by offering the same goods at a low price for a predetermined time.

The objective of honeymoon Demand-based pricing is to "lock" customers into a long-term association with the vendor.

Parity Demand-based pricing refers to the process of Demand-based pricing a product at or near a rival's price in order to remain competitive.

Peak and off-peak Demand-based pricing is a form of price discrimination where the price variation is due to some type of seasonal factor.

The objective of peak and off peak Demand-based pricing is to use prices to even out peaks and troughs in demand.

Peak and off-peak Demand-based pricing is widely used in tourism, travel and in utilities such as electricity providers.

Peak Demand-based pricing has caught the public's imagination since the ride-sharing service provider, Uber, commenced using surge Demand-based pricing and has sought to patent the technologies that support this approach.

Penetration Demand-based pricing is an approach that can be considered at the time of market entry.

Price skimming, known as skim-the-cream Demand-based pricing is a tactic that might be considered at market entry.

Promotional Demand-based pricing is a temporary measure that involves setting prices at levels lower than normally charged for a good or service.

Promotional Demand-based pricing is sometimes a reaction to unforeseen circumstances, as when a downturn in demand leaves a company with excess stocks; or when competitive activity is making inroads into market share or profits.

Two-part Demand-based pricing is a variant of captive-market Demand-based pricing used in service industries.

Two-part Demand-based pricing tactics are widely used by utility companies such as electricity, gas and water and services where there is a quasi- membership type relationship, credit cards where an annual fee is charged and theme parks where an entrance fee is charged for admission while the customer pays for rides and extras.

Psychological Demand-based pricing is a range of tactics designed to have a positive psychological impact.

Premium Demand-based pricing is the strategy of consistently Demand-based pricing at, or near, the high end of the possible price range to help attract status-conscious consumers.

Demand-based pricing, known as dynamic pricing, is a pricing method that uses consumer demand - based on perceived value - as the central element.

Uber's pricing policy is an example of demand-based dynamic pricing.

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Demand-based pricing applied for a U S patent on surge pricing in 2013, though airlines are known to have been using similar techniques in seat pricing for years.

Multidimensional Demand-based pricing is the Demand-based pricing of a product or service using multiple numbers.