Then auctions like eBay are another example of dynamic pricing.

What s the revenue stream. That s our strategy.

I could actually price on specific customer segments or on features I know they need.

It should be a value based decision.

It turns out we made this pretty easy.

But there's another type of pricing.

Set a price for this item

Cost plus market, value pricing, and volume price are all examples of fixed pricing tactics.

That just means that the last three yield management, real time, and auctions are examples of dynamic pricing.

That's a mistake.

They want to encourage high volume purchases, and so they have stepped pricing that is oriented to create volume.

Let's take a look.

And then kind of the third common errors, my price hast to be less than my competitor's price.

There's no haggling.

We are essentially saying the demand, the Price Quantity demanded relationship is held constant and we can pick a price and we'll get a certain quantity demanded.

And you will see later that pricing is a tactic.

But how do you think about pricing itself?

Here's how it is. It's the fixed price.

We'll just add a markup that is a profit, and therefore we have a price.

What was the market size? What share could you take?

licensing and intermediation and direct sales, etc.

Is it a license or subscription model?

On the left hand side, labor is is under a high cost pressure.

It's very simple. It's cost plus markup.

The stock market is a real time market.

One is fixed prices.

How hard can that be?

As we said, the same with pricing.

In companies do you know how much each individual department can sign off for?

Negotiated prices is a dynamic price.

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The first three cost based pricing, value based pricing, or volume based pricing are all examples of fixed pricing tactics.

And you know that it's going to be 100.

But what's interesting is inside of each revenue stream, you may have different pricing tactics.

That revenue model is different than the pricing tactics.

I love Lego Mindstorm, is which a wonderful way to experiment with these things.

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And that's the real big take away I wanted you to get at, is that high utilization of anything, of our aggregate capacity, prices will increase.

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But there are two types of prices.