News Flash:
Businesses have been doing this ever since we went from the barter system to a monetary system... it's called MARKET RESEARCH! This is just using new technology to do a very old thing. Businesses have played this old game for years: how much can we sell this product for in this economy? The internet gives them a new tool.
Put your little conspiracy theories away and quit being so easily scared already.
Behavioral Pricing: Smart or Scary?
SodaHead News
2012/01/23 22:57:44
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It's a few weeks into 2012, and businesses are trying to zero in on the year's big trends. According to The Daily Mail, Alex Gannett, founder of CampusSplash, says this will be "the year of behavioral pricing." That means companies could start using Twitter and Facebook to analyze how much people would be willing to pay for their product, sort of like customized Internet cookies. In other words, you could inadvertently raise the price of something by 'liking' it on Facebook.
Chris Simpson, Chief Marketing Officer at price comparison website Kelkoo, warns that it could have even darker implications, like different price adjustments for different people. He explains, "There are many pricing policies already used by retailers that most consumers are completely unaware of. These include things like regional pricing variations in the same stores across the country, not to mention retailers using different pricing structures for the same products in stores and online."
Chris Simpson, Chief Marketing Officer at price comparison website Kelkoo, warns that it could have even darker implications, like different price adjustments for different people. He explains, "There are many pricing policies already used by retailers that most consumers are completely unaware of. These include things like regional pricing variations in the same stores across the country, not to mention retailers using different pricing structures for the same products in stores and online."
Top Opinion
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Beat Magnum True Hero 2012/01/24 05:54:45
1) The populous in major cites would unkowingly predict a higher price, thus driving the price in smaller states higher due to smaller states having lower population and lower wages.
2) This could eliminate many regulations from government and bring higher wages and lower cost (a possible counteraction to #1)?
3) This would also fix wallstreet problems and have a stable market.
Essentially, this has more pluses than minuses in my book. Though I may not have realized all things.
P.S Business's should sell their product at a fair price! Every body wants to get rich over-nite these days! and can care less about the consumer;-]
so much about they will raise prices..
well, they will lower prices just as often , if not more, seeing all the negitive feedback on this...
free enterprise at work..
more demand and less supply... higher price
less demand and over supply... lower price..
unless you are the US Gov't .. then all the rules of free enterprise gets thrown out the window , and the socialism rules the day... eg. USPS , or how about gov't run tranist authority , public housing , etc.....