Implementing Dynamic Pricing in Price Management Software

When it comes to implementing a dynamic pricing model in your business, once the model is established, the use of Price Management Software makes it much easier to run and update. Especially if your pricing requires on-demand pricing or very frequent updates (daily/weekly) across thousands of products.

In Stratinis Pricing Suite you can easily setup a price build-up:

While the above example uses a cost-based approach from a wholesaler, all elements and factors are individual to the specific company and implementation of dynamic pricing, and thus could just as easily include value-based elements or competition/market elements. You have complete freedom as far as the software is concerned.

Once the software is configured, it can go through the dynamic price build-up for hundreds of thousands of products, across hundreds of markets, and do so at any desired frequency, from on-demand or hourly to daily, weekly or monthly. In a later article we will be discussing if there is a sweet spot for how often dynamic prices in reality should be updated, considering customers and other market factors.