#33unit 2online auctions
Defining and measuring the growth of auctions and dynamic pricing
How auctions and dynamic pricing expand and are measured.
Unit 2Online AuctionsTopic #33Published
Defining and measuring the growth of auctions and dynamic pricing
Not started
Dynamic pricing is the practice of changing prices based on demand, supply, and customer behaviour rather than fixing a single price. The Internet has enabled the resurgence of auctions and other dynamic pricing mechanisms (flash sales, surge pricing) that were difficult in traditional retail, and their growth is measured by auction transaction volume and revenue.
- Define dynamic pricing and contrast it with fixed (menu) pricing.
- Explain why the Internet enabled the resurgence of auctions.
- Identify the main dynamic pricing mechanisms (auctions, surge, flash).
- Describe how the growth of auctions is measured.