Improved product awareness among consumers has preceded to substantial prioritization of cost-based analysis. For the materialization of such a priority, industries tend to optimize prices dynamically. A pricing model with multiple price points implies a diverse revenue portfolio. Prices are now molded with associated factors like demand level, service time, customer whereabouts, competition, etc. Big data plays a vital role here, i.e., with advanced insights only, pricing decisions can be steered to sustain revenue maximization.
The AI models predict demand levels in collaboration with constructive analytics to price the solutions/services. Thus, an independently adaptable approach to foresee situation-oriented client willingness for a product is the key to a pricing structure that translates into an exceptional marketing tool.