OnDemand WTP Pricing Research

How enterprises use dynamic pricing algorithms with AI, CRM | Tech Target

Dynamic pricing, a strategy in which prices for things like hotel rooms, airline tickets, computer hardware and basically anything on Amazon change minute by minute, has been around for years.

What’s new is AI-assisted dynamic pricing algorithms hard-wired into CRM platforms, giving Salesforce and Microsoft Dynamics users the ability to automate real-time pricing according to market demand.

The pricing scheme as we know it today was born out of 1980s U.S. airline industry deregulation. Anyone old enough to remember American Airlines’ Super Saver fares of the Reagan era gets the idea. The travel and hospitality industry pioneered dynamic pricing, which rewards adventurers willing to wait until the last minute to grab a cut-rate deal at luxury vacation brokers, such as Secret Escapes.

Today, CRM software running on cloud platforms, coupled with AI tools, takes dynamic pricing algorithms and couples it with state-of-the-art sales automation. Dynamic pricing algorithms set real-time pricing for many different markets, from travel to sports to B2B companies — even down to the price a conference center pays its distributor for paper coffee cups.

Read complete article here:

How enterprises use dynamic pricing algorithms with AI, CRM.

Post a Comment

WP-SpamFree by Pole Position Marketing