Technology has produced many new products that has made the business world grow tremendously. As a business that have to create a price for certain products that will bring revenue to the business. The price of any good is the amount of money that it is worth. The use of technology has made this industry change it strategies of pricing their products. The price is classified as the value that a buyer trades for such good or service. In the past, prices were just a means of negotiation. There was never a set amount of what a good or service were worth. People would make a price that seem legit for what the service or good was. With time prices were established and remain at a constant rate for the time or period. The use of the internet has brought back dynamic pricing which is the shifting of prices for different customers. Price transparency has also been use because of the internet which means that everyone is able to view the prices online (Strauss & Frost, 2014, p. 267).
Price has different meaning to both the buyer and the seller. The price can be establish through how the buyer or seller views the service or products. When there is a buyer in place, the buyer will view the price as the time, money, energy, and psychic costs. The buyer has to look into all the different ways to be able to figure out what the product is worth to them. It cannot just be assume but actually calculated to the right amount of time, money, energy, and psychic cost. With all this different types of ways to determine a good or service price. Buyers enjoy the savings that are brought with purchasing a product online. Some of the savings include: the internet is fast and convenient, shelf-service will save th...
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...ally looking for a good deal. When there is an auction of business to business, businesses are just trying to do away with access inventory (Strauss & Frost, 2014, p. 284).
Renting software is used when companies prefer to rent a software rather than sell it to their customers. Renting of the software is the exact same thing as leasing a car. Some customers prefer to rent their software’s because they do not have to worry about the maintenance or other routine things the needs to be done to the software. The customers will not have to hire someone to maintain such rented software because the company will be doing it for them. Like for instance Salesforce.com rents out their CRM software system to different businesses (Strauss & Frost, 2014, p. 288).
Stratus, J. & Frost, R. (2014). E-Marketing (7th ed.). Upper Saddle River, NJ: Pearson Education.
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