Customized or dynamic pricing sets different prices on the same products and services for different customers using the information that a company collects about its customers.

Question

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Customized or dynamic pricing uses customer data to set different prices for the same products and services based on factors such as their purchase history, demographics, and buying behaviors. This allows companies to tailor their pricing strategies to individual customers, potentially increasing sales and customer loyalty.

Customized or Dynamic Pricing Sets Different Prices on the Same