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Getting started with dynamic pricing - Vishal Kapoor on The Product Experience

The Product Experience

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The Role of Value-Based Pricing in Competitive Pricing

In economics, the concept is called what is somebody's willingness to pay or willingness to sell. You usually start from a very simple strategy, which is what does it take for me to make this? I'm just going to break even or cost a little bit more. From there, you slowly advance into dynamic pricing or such. Now, there are times when you shouldn't use this and that might be in monopoly or monopsony situations. Is it illegal to use surge pricing? At the end of the day, the companies, I'm not sure if there are laws that prevent you from doing surge pricing.

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