It used to be, when companies changed prices, it was at rather infrequent intervals (hotels might raise prices during peak and shoulder seasons), ski resorts might charge a higher price during holiday weekends. This fascinating article shows that companies using data rich information are getting savvier at raising prices at more frequent intervals, even day by day or hour by hour. This phenomenon has the potential to contribute greatly to a company’s bottom line.
In this week’s discussion, I’d like you to brainstorm companies that could use faster incremental pricing changes as a way to raise revenues and ultimately, the bottom line. (conversely, there are companies that could abuse this technique and find themselves facing angry customers)
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1-2 paragraph in APA style.