16 ms·
This is a good explanation. It's probably worth pointing out that basing custom prices upon a buyer's perceived value of the item rather than the item's cost o
by taprun 6y ago
This is a good explanation.
It's probably worth pointing out that basing custom prices upon a buyer's perceived value of the item rather than the item's cost of production will usually generate higher levels of profit.
- AnimalMuppet 6y agoIt will generate higher revenue, but at higher cost - the cost of figuring out each customer's perceived value. That's not free. Whether it's worth it or not depends on the details of the business.