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Thursday, February 22, 2018

Why Internet prices are different for everyone

Por sumily

Recent studies have confirmed that there is a good market for the type of product that is planned to be manufactured, with the feeling that there will be no problem in selling what is produced. When you try the product with potential consumers it seems to be to your liking. However, before you can be sure that the business will be successful, there are many questions that require a response. The first question is: "even if people like the product, will they buy it when they are in stores?" To answer this question, we must consider the following: can one compete on price with other products? Can you compete in quality? What sizes are sold in the market? What are the packaging and packaging that shopkeepers and consumers want, and are you in a position to offer them? What labels are needed and what information needs to be put in them to satisfy both the consumers and the mandates of the legislation? Is the product going to be branded?

It is not uncommon for two people to pay different prices for the same plane ticket. Sometimes we believe that it is a last minute price change because of the speed with which the market moves. However, sometimes behind these differences there is a commercial strategy. It is called "personalized price", a tool used by some companies whose basic principle is to charge the price that each customer is willing to pay for a product. Companies know that certain people value a product more, considering their search history, previous purchases, other consumption habits, place of residence or age, and therefore, they charge a little more expensive.

The mechanism also works in reverse when someone is not willing to pay much, receives a discount. According to the experts, with the expansion of Internet sales, this strategy has been increasingly specialized. According to the consultant specialized in the subject and author of the book "The Art of Prices", Rafi Mohammed, there is a subtle way to create electronic profiles to set differentiated prices.

Has it happened to you that you are looking for a flight or a hotel in the application of your cell phone, you open your laptop and a different one appears? What's new is the difference between the price of the application and the price on the web. There are many clues that allow you to make a profile of a customer's price. Use a laptop, a desktop, an application on the phone or web, the operating system used, the site where we are at the time of the search, the times you visit the page.

By these parameters, many companies can evaluate the characteristics of the buyer to create a profile that generates a personalized price. What is known is that the mechanism is becoming more sophisticated, but there are no figures available at present for a more detailed analysis by sector or company. It can generate frustration in some cases when the client realizes that they do not charge him the same and has to start playing from different devices or as if he were another user. Making a price profile is not unethical, but you have to take into account some considerations. The Amazon online store offered differentiated prices in the late 1990s. Customers were upset and Amazon promised not to use this practice again. There are also other situations in which differentiated prices could generate controversy. However, each company defines its pricing policy considering different factors.