Then auctions like eBay are another example of dynamic pricing.

It turns out we made this pretty easy.

Now let's think about related goods.

Set a price for this item

Let's take a look.

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

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

licensing and intermediation and direct sales, etc.

But there's another type of pricing.

What s the revenue stream. That s our strategy.

It should be a value based decision.

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

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

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

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

And this is very relevant to what's going on in the world today.

But how do you think about pricing itself?

The stock market is a real time market.

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

That's a mistake.

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And you will see later that pricing is a tactic.

Is it a license or subscription model?

But there are two types of prices.

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

And we've done some market study or we just know how the price is or how the demand is related to price, or price is related to demand.

As we said, the same with pricing.

And so what would happen if the price of a related good

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

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

That revenue model is different than the pricing tactics.

There's no haggling.

And so, once again, if the price of related goods... well, it depends which related goods... but if the price of productive substitutes, so the price of other things I could produce... if the price of other things

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

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

How hard can that be?

How does that change demand?

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I'm going to talk about two stories today.

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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.

Negotiated prices is a dynamic price.

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