To determine what customers were willing to pay Sun Jewelry, a US jewellery retailer used auctions as a dynamic pricing method to test the market. The firm listed items on eBay, observed the bidding process and the final prices offered, then used the information to set in-store prices for similar products. The firm found out…

BPIR Categories

4.1.1 Identify market segments & target customers
4.2.1 Manage sales & sell products & services
4.1.4 Develop & implement marketing strategy
6.4.2 Implement systems for managing the service

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