Strategies for Communicating Dynamic Pricing – Examples from FAQ Pages

Strategies for Communicating Dynamic Pricing – Examples from FAQ Pages

When it comes to dynamic pricing, communication is of paramount importance. It is key during not only its introduction, but also onwards. Here we list different company’s publicly available communication material about dynamic pricing. In each case, the intended target audience is the end user (i.e. the buyer of the service or product, generally a ticket). The collection exemplifies the various strategies the different companies follow in their communication about dynamic pricing. Which one do you think is the most appropriate?

Smart Pricing lets you set your prices to automatically go up or down based on changes in demand for listings like yours. You’re always responsible for your price, so Smart Pricing is controlled by other pricing settings you choose, and you can adjust nightly prices any time. Smart Pricing is based on the type and location of your listing, the season, demand, and other factors. 

Once you turn on Smart Pricing, your prices will be automatically updated within the minimum and maximum prices you set. Smart Pricing works for all open nights on your calendar, and you can adjust specific nightly prices any time.

Source: https://www.airbnb.com/ 

Dynamic pricing is time-based pricing and applies based on demand. Purchase early to lock in prices and seats.

 

Source: https://www.broadwaysf.com/Online/default.asp?BOparam::WScontent::loadArticle::permalink=frequently-asked-questions&BOparam::WScontent::loadArticle::context_id=

The prices are no different from what I can get if I go to the cinema?

Choovie provides its partner cinemas with guidance on what prices are best for what sessions, the cinemas choose whether they use this guidance or go with their own pricing. Also demand based pricing depends on demand, if it’s a low demand session it should be cheaper than the box office, if it’s a high demand session, it might be the same. Whether it’s a date, a break or a midweek treat, movies make our lives richer. Our airline-style dynamic pricing makes empty cinema seats cheaper, so that you can see more movies, for less.

 

Source: https://www.choovie.com.au/about-choovie

What is dynamic pricing?

Dynamic pricing is a price model which changes based on real time supply and demand. If you’ve ever shopped for a plane ticket or a hotel room online, you’re probably familiar with the concept. Although many industries use a dynamic pricing model, it’s a relatively new concept to the golf industry but one which benefits the golfer in many ways, including great golf discounts and tee time deals for more flexible players. The City of Longmont Golf uses a combination of season, day, time, and weather to determine its online tee time prices.

How does dynamic pricing work?

Prices are determined based on a unique combination of factors, including the season, the day of the week, the time of the day, and the expected weather. If you’re a golfer who has some flexibility in your schedule, it’s typical that the highest prices will be in the early morning on Spring and Summer days when the weather is fair, but that they will trend downward the hotter it gets in the afternoon, or during colder seasons. For example, a fair Saturday morning at 8:30am in the summer will be more expensive than a hot Wednesday afternoon in the summer.

How do I get the best price?

Dynamic pricing discount golf rates will only be available for tee times booked online through www.golflongmont.com. (You can book your discount tee time now by clicking the buttons above and choosing the time and rate that works for you).

Can I still book my tee time over the phone or in person?

Of course! Keep in mind, though, that any tee times that are reserved over the telephone or in-person will be charged the rack rate and will not benefit from the dynamic pricing model.

What if I have a membership or punch card already?

If you are a member or have a punch card for our course, simply reserve your tee time online and pay upon arrival. We’ll make any adjustments necessary at the time of payment.

Can I use coupons when I come in to pay?

In general, our coupon restrictions are printed directly on the coupons, so check your coupon first. Most coupons are applied to the rack rate and cannot be used in conjunction with our online dynamic pricing tee time discounts. Check for coupons in the ValPak or Longmont Times-Call inserts.

Why dynamic pricing?

For industries that have static products, dynamic pricing doesn’t always make sense. But for industries that run on the calendar year, they only have a limited number of days and times to sell their product. For example, if a bed and breakfast is trying to sell rooms on a Wednesday night during low demand and only books 1 out of the 5 available rooms, come Thursday they will not have another opportunitity to recover that revenue for the entire year; the day and time is gone entirely. But if they price their rooms dynamically, a steep Wednesday ngiht discount might be just the thing to entice someone to book the room. Thus, they may not have paid full price, but with an expiring opportunity for operating revenue, selling 5 half price rooms is still a better deal than selling 1 full time room. This is why it makes so much sense for the golf industry, and for City of Longmont Golf. Sure, we’re offering a steep discount for those afternoon tee times, but we’d rather fill up our tee sheet than see the game unplayed due to low demand.

Wait a minute, doesn’t this mean some tee times will be more expensive?

Actually, because of the nature of golf prices and tee time expirations, you probably won’t notice a difference in the high demand tee times. While it’s possible high demand times might cost an extra couple of dollars, the new dynamic pricing model for Golf Longmont will be more of a promotion than a penalty.

 

Source: https://www.golflongmont.com/dynamic

Which games and blocks does the new pricing model affect?

Our matchday ticket prices vary from game to game and affect almost all blocks.

What about the price of my season ticket?

Season-tickets prices remain the same and are always the cheapest way of seeing each game.

How do I get the school children, student, pensioner etc. reductions?

Reductions will still be granted and are available at the Hertha BSC fan shops, the service hotline and in the online shop (expect for member offers). The correct proof to obtain these reductions is of course necessary.

How is it decided whether or not the ticket price is adjusted?

This depends on the level of bookings. The goal is to use the stadium to its full capacity and therefore create a better atmosphere at games which are less in demand.

How do I find out about the current lowest prices?

You can always find the cheapest prices in our online shop.

Will ticket prices increase with the new price model?

No, we’d like to continue to offer our fans the lowest possible prices. Therefore, ticket prices for less in demand games will only be reduced for people who book early. If you buy online early, you’ll secure not only the best seats, but also the cheapest tickets. The earlier you buy, the cheaper it is!

 

Source: https://www.herthabsc.de/en/tickets-/faq/page/360-1265-17–.html

Which games will be subject to dynamic pricing?

All Seattle Mariners single game tickets at T-Mobile Parrk will be priced dynamically.

Will season ticket holders have to pay dynamic prices?

No. Dynamic pricing only applies to single game tickets. As always, being a Mariners season ticket member guarantees fans they will pay the lowest price for their select seat.

Does dynamic pricing change the way I buy my tickets?

No. Fans will still be able to buy their tickets the same way they have in the past online at www.mariners.com, at Seattle Mariners Team Stores, the T-Mobile Park Box Office and Ticketmaster Ticket Centers. However, under dynamic pricing, fans will have more price choices based on such things as day of the week, opponent, seat location, etc.

How do I know how much my ticket will cost?

Because prices can change, fans will always have the most up-to-date ticket prices through www.mariners.com.

What’s the best way to find tickets in my price range?

You can find a Seat Map at www.mariners.com. It’s a handy tool that helps fans navigate around the ballpark and choose the best seat within their specific price range.

How do you decide when to change prices?

We are partnering with the leading dynamic pricing software provider to analyze our specific market conditions to make adjustments as needed. There’s no set schedule. Adjustments will be based on market conditions.

 

Source: https://www.mlb.com/mariners/tickets/dynamic-pricing-faq

Prices for all performances are subject to change (increase and decrease) based on sales. Sales are analyzed on a per-performance and per-section basis and prices are adjusted based on changes in sales.

Tickets purchased as part of a full subscription are not subject to dynamic pricing. Your prices are locked in for the entire season at the time of purchase. Additional single tickets purchased after your subscription package are subject to dynamic pricing. As with all of our tickets, all sales are final, so no refunds will be granted if prices decrease.

The prices on the website are adjusted in real time and reflect the most current price for each performance. You can also call 212-362-6000 or visit the Met box office for up-to-date pricing information.

 

Source: https://www.metopera.org/about/faq/

In a move toward next-generation Express Lane traffic management, Plenary Roads Denver (PRD) presented an update to the High Performance Transportation Enterprise (HPTE) Board on Sept. 19, about its transition on the US 36 and I-25 Central (I-25 from downtown Denver to US 36) Express Lanes corridors from fixed time-of-day pricing to dynamic pricing.

As part of the transition, PRD is making some adjustments to time-of-day tolling rates. These adjustments will allow PRD to better manage traffic flow in the US 36 and I-25 Central Express Lanes during the transition, and calibrate the traffic to provide a baseline for the dynamic Express Lane pricing and implementation.

These small toll adjustments are helpful for the transition as they provide data for the development of parameters within the dynamic tolling algorithm. PRD expects to completely roll out dynamic pricing by 2020.

On average, rates are going up about 4 percent, mostly during peak travel periods. For instance, an eastbound trip at 7 a.m. from Boulder to Downtown Denver will be adjusted from $7.30 to $7.65. There are also adjustments during the peak travel time in which the rate will decrease. An 8 a.m. trip from Boulder to Denver will decrease from $8.35 to $8.30.

In one instance, based on increased traffic volume and dynamic pricing testing, PRD is extending the morning peak travel pricing from 8:45 a.m. to 9 a.m.

With dynamic pricing, Express Lanes rates would be continually adjusted according to real-time traffic conditions to maintain free-flowing levels of traffic. Toll rates would increase when the Express Lanes get congested and decrease when the Express Lanes are less full. This advanced technology helps to manage traffic flow through the Express Lanes and helps to maintain reliable travel times along the corridor.

 

Source: https://www.codot.gov/programs/expresslanes/assets-documents/dynamic-pricing-update-for-us-36-i-25-express-lanes

Why is Téléverbier introducing a Dynamic Pricing model?

Téléverbier wants to position itself as an innovative and sportive ski resorts keeping up with today’s technologies. Therefore, we aim at offering our customers an easy online-booking process with attractive early-booking offerings. This helps to reduce waiting lines at the cash desk in our ski resort and allows our customers a faster first-entry access on the slopes. With our dynamic pricing approach, we can offer our customers a possibility to go skiing at reasonable prices under certain conditions. By doing so, we support customers with restricted budget who know their holidays already in advance and can therefore highly profit from the web shop prices. It is also the aim of the new pricing strategy to smooth the utilization of our sports facilities and make skiing more attractive, especially in the off-season.

How does the new pricing model work?

For the season 2019/2020 the new pricing model will be applied only for online prices in the web shop. The prices for ski tickets at the cash desk (cash desk at the ski resort, hotel cash- sport shop desk and vending machines) will stay with fixed prices and don’t change dynamically on a daily basis. According to different external factors (such as customer demand, booking date, weather or seasonality), the prices in the web shop will move dynamically. This means that ski ticket prices in the web shop will start at an attractive early-booking price and rise towards the fixed cash desk price in dependence of the external factors. Early-bookers will get the best prices in the web shop.

Which ski tickets will be priced dynamically?

For the season 2019/2020 only online ski tickets of the sector Verbier and Savoleyres-La Tzoumaz will be priced dynamically. Ski tickets sold at the cash desks and ski tickets of the other 4 Vallées sectors as well as the 4-Vallées-Skipass are not subject to dynamic prices.

Which tickets are not priced dynamically?

For the season 2019/2020 all tickets of Téléverbier sold at the cash desk, hotel desk and automatic vending machines in the ski resort follow a fixed pricing strategy and don’t change dynamically on a daily basis. Additionally, tickets of all other 4Vallées sectors as well as 4ValléesSkipass are not priced dynamically.

As a customer – how can I benefit from the new pricing model?

Customers will benefit from the new pricing model in various ways. Early-bookers will have the greatest advantage. They can receive attractive early-booking discounts up to 20%. The maximum discount will be available for ski tickets that are booked with a minimum of 20 days in advance and is dependent on the customer demand as well as on other external factors. This means that prices will rise with an increasing customer demand and that maximum discounts are limited to a first-come-first-serve basis. Apart from this, ski tickets will have attractive prices during the lower seasons, especially before Christmas and in Spring time.

Will skiing get generally more expensive with Dynamic Prices?

No. In comparison to totally fixed prices of the last years, tickets can be booked at attractive early-booking prices in our web shop. Depending on the season, booking date and actual demand, ski tickets can get even lower prices compared to the fixed prices of the last years.

Where do I find the attractive Dynamic Prices for my next ski day?

Tickets with attractive early-booking discounts can be booked via our web shop: https://www.easyverbier.com

Why should I book online as a customer?

Customers who book their Téléverbier ski, sledge or pedestrian ticket online will always profit from the best price available. Generally, online prices will rise over time, depending on the customer demand and the remaining time before the actual skiing day. Early online-bookers will profit from the most attractive price. On top of that, customers who booked their tickets online can load their ski ticket onto an existing key card and can therefore skip the queue in the ski resort. Customers will therefore profit from a faster and easier access to the slopes.

How can I find out about the current online price of a ski ticket?

Customers can inform themselves about the current online price of a ski ticket in our web shop. There they will find a calendar which shows the current prices for all available ski tickets and different validity dates.

Can I still book ski tickets offline?

Of course, our customers can still book their ski tickets and other tickets at the cash desk, partner hotels – sport shop and vending machines in the ski resort. However, these customers won’t profit from the attractive early-booking ticket prices.

Where can I find out about the fixed prices for the winter season 2019/2020 which I have to pay at the cash desks?

An overview of the fixed prices which have to be paid at the cash desks, hotels and vending machines in the ski resort can be found as well on our website: https://www.verbier4vallees.com. These prices are fixed and don’t change on a daily basis.

Do existing discounts on certain ticket types remain?

Of course, discounts for certain groups of people and group tariffs will remain in place according to the agreed conditions with Téléverbier. Requests for a special rate can be requested at offres@televerbier.ch.

 

Source: http://www.verbier.ch/UserFiles/File/organisme/UserFiles-verbier/File/TVSA/FAQ-en-dynamic-pricing.pdf

What’s happening when prices surge?

Sometimes ride requests increase unexpectedly. Surge pricing is designed to restore the balance between driver availability and rider demand.

Rebalancing the marketplace

Surge pricing automatically goes into effect when there are more riders in a given area than available drivers. This encourages more drivers to serve the busy area over time and shifts rider demand, to maintain reliability and restore balance.
—–For drivers, it’s an incentive
Drivers are notified in the Uber app when demand increases through a map which shows the busiest areas and information about surge prices. The influx of drivers should mean there are more rides to go around.
—–For riders, it’s a premium
During surge pricing, fewer riders typically pay the premium. Rider demand decreases as some riders wait for more drivers to become available, and the marketplace rebalances.

Keeping it effective & accurate

Surge pricing works because it’s closely tied to the level of the marketplace imbalance. Here’s how we try to balance reliability for riders and drivers:
—–Algorithm-controlled:
Surge pricing is automatically activated by algorithms that detect shifts in rider demand and driver availability, in real time, all over a city.
—–Real-time updates:
Because rider demand and driver availability change constantly, prices update every few minutes. Real-time updates help rider prices reflect supply and demand, and riders and drivers know what to expect.
——Hyper-local zones:
To optimize reliability, Uber maps every city into hyper-local zones — small hexagons a few city blocks wide. Each hexagon surges based on its real-time driver availability and rider demand. Our H3 global hexagon grid system, developed in-house and open-sourced, helps make price changes accurate and effective.

Additional factors

Current driver availability and rider demand are the primary inputs to surge pricing. But we also factor in forecasts about market conditions. Additionally, when circumstances warrant it — such as in major emergencies that impact public safety — our teams assess the situation and cap surge pricing in the area.

Why surge pricing?

Surge pricing is a relief valve for the ridesharing marketplace. Without it, when demand for rides exceeds the number of available drivers, riders would wait longer (or might not be able to get a ride at all). Drivers would have less incentive to accept requests in busy areas. Surge pricing helps restore balance to the network. By waiting a bit longer, riders can avoid the surge price.

 

Source: https://marketplace.uber.com/pricing/surge-pricing

In an ongoing effort to provide the best ticket value for fans, the Washington Wizards are continuing their partnership with Qcue and their dynamic pricing system for the 2012-2013 season. Utilizing advanced computer pricing software, the Wizards will adjust single-game ticket prices in real-time based on ticket availability and changing factors such as league standings, opposing team, rivalries, star players, day of the week and supply and demand.

Dynamic pricing empowers fans by providing more options during their ticket purchasing process as well as providing ticket prices that better reflect actual market value. Similar to the travel and entertainment industries, fans who purchase their tickets early are more likely to get the best value.
As always, Wizards season-ticket holders will pay the best price for their seats. Single-game buyers will be able to purchase their single-game tickets the same way they have in the past; online through the Wizards ticketing pages as well as at the Verizon Center box office. If you have any questions regarding dynamic pricing and/or to be alerted of special Dynamic Deals please follow us on Twitter @WizardsTix.

 

Source: https://www.nba.com/wizards/dynamic-pricing

What is dynamic pricing?

All individual game ticket prices will be subject to variable and dynamic pricing. By utilizing advanced computer pricing software linked to the team’s ticketing system, the Yankees may adjust ticket prices based on changing factors that affect market demand. The Yankees’ dynamic pricing model helps more accurately price tickets for individual games and provides fans with more price options.

Which games are subject to dynamic pricing?

Select Yankees individual game tickets and group tickets will be dynamically priced for the 2018 season. Individual game ticket prices will be based on the date of purchase for that particular game. Group ticket prices will be based on the date that the initial group purchase is made.

Will this affect Yankees Season Ticket Licensee prices?

No. Dynamic pricing applies only to select individual game tickets and group tickets.

How do the Yankees decide when to raise or lower prices?

Price adjustments will be made in real-time based on changing factors such as day of week, month, weather forecast, and ticket demand. You can view the current ticket prices for each home game online at yankees.com.

Will this change ticket promotion offers?

Popular Yankees ticket special offers such as Mastercard $5 Games, Mastercard Half-Price Games, Senior Citizen Games, Student Games, Youth Games and Military Personnel Games will continue in 2018. The Yankees will continue to work with partners to offer great ticket deals to fans. View the latest promotions online at yankees.com.

What happens if prices lower after I purchase my tickets?

Tickets are always priced based on current market factors. By utilizing advanced computer pricing software linked to the team’s ticketing system, the Yankees may adjust ticket prices based on changing factors that affect market demand. As with all Yankees tickets, all sales are final and non-refundable.

 

Source: https://www.mlb.com/yankees/tickets/pricing/dynamic-pricing-faq

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