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In dynamic pricing the price of a product varies

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Unformatted text preview: ility to change prices dynamically based on market conditions. In Dynamic Pricing - The price of a product varies depending on the demand Dynamic characteristics of the customer or the supply situation of the seller. characteristics Digital markets may either reduce or increase switching costs, depending on Digital the nature of the product or services being sold, and they may cause some extra delay in gratification. delay Unlike a physical Market, you can not immediately consume a product such as Unlike clothing purchased over the Web. clothing KEY CONCEPTS IN E-COMMERCE; DIGITAL MARKETS AND DIGITAL GOODS KEY Digital Markets are very flexible and efficient because they operate with :Digital Markets provide many opportunities to sell directly to the Consumer, Digital bypassing intermediaries , such as distributors or retail outlets. Eliminating intermediaries in the distribution channel can significantly lower purchase transaction costs. To pay for all the steps in a traditional distribution channel , a product may have to be p...
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