SUMMARY: Ideally, prices should be set to maximize revenue. But if demand for a product changes, prices also have to change to reach total efficiency. How do you know if youíre setting the best price possible?
See how a major league baseball team tested dynamic pricing for tickets to home games. They sold 20% more tickets in sections where the dynamic pricing was offered -- but the program hasnít been a grand slam. Find out how they managed challenges, set prices and sold more tickets.