What Is Dynamic Pricing?

Get Your FREE Pricing Strategy eBook Below...

And how can dynamic pricing maximise your profits. Most goods are sold with a fixed price - a system normally based on the cost of producing goods plus a mark-up profit. So what is dynamic pricing? It's about maximising profits by reaching the harmonious balance of buyers vs price. But how to price?

Critical to successful pricing strategy is having a reasonably accurate idea of your supply and demand. Too high a price and demand falls as less buyers purchase the product. Too low a price can increase volume of sales but reduce profit margins. The problem of determining price based on supply and demand can be even greater, especially with regards to ecommerce where multiple markets operate at different times of day - and may interact and affect each other.

Overcoming the tricky question of the best pricing policy is often served by price matching, or undercutting the competition. But how do you know they have their pricing right? If they are already pricing too low, and you undercut them... Perhaps that ten thousand spent on a pricing consultant doesn't look quite so expensive anymore. Alternatively trial and error was always a potentially expensive science...

However, Ken Evoy of Sitesell (author of the highly acclaimed 'MYSS!' - the bible of selling anything online) has produced an incredibly powerful automated tool for determining the perfect pricing of any product. Ken has used this tool with impressive results in pricing his own products. He calls his tool 'Make Your Price Sell!' (or 'MYPS!') - and because Ken always OVERdelivers with any of his products, he's quite happy to provide his usual 'no questions money back guarantee'.

-----------------