Dynamic Pricing

Author custom: Accenture

C-level executives continue to consider pricing a top strategic priority, and for good reason: It’s the largest driver of growth in customers, revenue, and profits.

In the “old days,” pricing used to be largely a “set it and forget it” exercise. But not anymore. Automated price setting and more frequent price changes to best capture customers’ willingness-to-pay is today’s “holy grail” of pricing for most companies. Pioneered by airlines’ smart revenue management systems, dynamic pricing has gained prominence in many other settings — including hotels, ride hailing, e-commerce and, increasingly, traditional retail. 

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