Value Based Pricing: Difference between revisions

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When renewing a subscription or purchasing an item, would you care it was subject to price hikes regardless to how much profit the company is already making? Certain services may have collected information about you that helps them identify how much you are willing to pay them or use 3rd party tools to approximate how much to charge you the consumer specifically.

===Price gouging individual ~~consumers on an individual basis~~===

===Price gouging individual or specific consumer groups===

With specific apps that you buy stuff from may collect your data without your consent. This allows companies to charge more for the same items that you may buy again later on. These apps likely also share this type of purchase history with other providers that share similar products for profit.

===Targeted smart pricing with AI===

~~{{Placeholder box|If the theme~~ or ~~common term is positive for~~ the ~~consumer~~ this ~~section~~ can be ~~omitted~~.

When doing any type of transaction online or in person there could be some assistant watching you. This can vary from your appearance, type of diction, clicking patterns, chat logs with in the help sidebar, how often products are viewed and how frequently your looking at them. by automating all of this into a weighted model can be used to target users automatically by assuming their income bracket and adjusting prices accordingly instead of paying a marketing department do it for them. Smart pricing is the new method many companies embrace to maximize profit while reducing expenditures

~~===Point 1===~~

~~===Point 2===~~

}}

==Examples==

Walmart & Kroger using smart pricing on it's products ~~when checking out items~~

Walmart & Kroger plans of using smart pricing on it's in person retail products

Cloudflare charging you higher rates for the same plan as other users

Doordash charging users hidden fees based on how they use the app and what device they were ordering from ~~{{Placeholder box|Some examples of {{PAGENAME}} include:~~

Doordash charging users hidden fees based on how they use the app and what device they were ordering from

*

*}}

==References==

[[Category:Common terms]]

@@ Line 9: / Line 9: @@
 When renewing a subscription or purchasing an item, would you care it was subject to price hikes regardless to how much profit the company is already making? Certain services may have collected information about you that helps them identify how much you are willing to pay them or use 3rd party tools to approximate how much to charge you the consumer specifically.
-===Price gouging individual consumers on an individual basis===
+===Price gouging individual or specific consumer groups===
 With specific apps that you buy stuff from may collect your data without your consent. This allows companies to charge more for the same items that you may buy again later on. These apps likely also share this type of purchase history with other providers that share similar products for profit.
 ===Targeted smart pricing with AI===
-{{Placeholder box|If the theme or common term is positive for the consumer this section can be omitted.
+When doing any type of transaction online or in person there could be some assistant watching you. This can vary from your appearance, type of diction, clicking patterns, chat logs with in the help sidebar, how often products are viewed and how frequently your looking at them. by automating all of this into a weighted model can be used to target users automatically by assuming their income bracket and adjusting prices accordingly instead of paying a marketing department do it for them. Smart pricing is the new method many companies embrace to maximize profit while reducing expenditures
-===Point 1===
-===Point 2===
-}}
 ==Examples==
-Walmart & Kroger using smart pricing on it's products when checking out items
+Walmart & Kroger plans of using smart pricing on it's in person retail products
 Cloudflare charging you higher rates for the same plan as other users
-Doordash charging users hidden fees based on how they use the app and what device they were ordering from {{Placeholder box|Some examples of {{PAGENAME}} include:
+Doordash charging users hidden fees based on how they use the app and what device they were ordering from
-*
-*
-*}}
 ==References==
 {{reflist}}
 [[Category:Common terms]]