In Finland, there have been several years of thinking about applying dynamic pricing to the prices of food and daily necessities in grocery stores. In the current system, the prices of the products are always the same for all customers, but the new system would better take supply and demand into account. In practice, it would mean that, for example, bread would be the cheapest when there is a lot of stock and there is little demand, and the most expensive when there is little stock and there is a lot of demand. To implement this, it is planned to use modern technology and digitization so that food prices are updated in real time and the store keeps track of how many products are left and how many have been sold within an hour.
Thank you so much for this informative video! The explanations about pricing strategy and its importance were very comprehensive and useful. The examples you provided really helped understand the topic better. Could you please share more about how businesses can adjust their pricing strategies in response to market changes?
This is stellar work; akin to a stellar book that explored these ideas thoroughly. "Game Theory and the Pursuit of Algorithmic Fairness" by Jack Frostwell
I'm studying at economics faculty and was interested in schemes and tools or mb useful tips not in an obvious base:/ where are the tools you mentioned?
This isn’t entirely true. Mexico is going to surpass China in manufacturing. Think about the Chinese yen is going to surpass the U.S. dollar so the labor isn’t cheap. We’re paying too dolalr for Chinese labor meanwhile the Mexican peso is half the U.S. dollar
China has cheap labor, no union, no retirement plans, also chinese govt gives locals big tax incentives so they can be more cheaper than foreign products
The price should not be much higher than other competitors... I disagree! this statement says it's about the price only and nothing else matters. How about Apple i.e. or Gucci and Ray Ban etc.
You only calculated the variable cost to cover business expenses but you forgot to calculate the fix cost as well. Business will go broke if they dont cover their entire cost on the long term
The video is informative but man is the grammar horrible. It’s like this voiceover is computer generated or it’s just someone reading off a literal translation from another language. Super disjointed to a native English speaker.
Right, why did they hire a native speaker yet he didn't correct the grammar? Also it's not very gender inclusive. "Businessmen" and all examples of business owners are men. I do appreciate the information though.
Yeah, it is. The voice sounds so unnaturally stiff, and there were a lot of speech problems that I noticed. This whole video is made by AI, and more than likely, the script is too. So this isn't even a real person giving us advice, just a machine.
you lost me once you used Oreo as an example for a price breakdown, everything that followed was in theory sound, but is pretty detached from the reality. have you ever worked in a company supply line before or is this all just based on hearsay? you listed off basic concepts but none of these are "tips you can use to make your product more compelling and valuable".
Good video but the English Grammar is terrible - why not use a free tool like Grammarly so it teaches you how to speak properly? This sounds like it was written by a non-native English speaker.
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In Finland, there have been several years of thinking about applying dynamic pricing to the prices of food and daily necessities in grocery stores. In the current system, the prices of the products are always the same for all customers, but the new system would better take supply and demand into account. In practice, it would mean that, for example, bread would be the cheapest when there is a lot of stock and there is little demand, and the most expensive when there is little stock and there is a lot of demand. To implement this, it is planned to use modern technology and digitization so that food prices are updated in real time and the store keeps track of how many products are left and how many have been sold within an hour.
I can imagine how implementing AI would be so beneficial for something so great. We would reduce our food waste by so much!!
I’ve seen this heron in Sweden! Must have stole your idea! 😝
It’s insane but it works
One thing that’s important is that prices only go down…
This video is understandable and easy to think about . The video helped me in pricing my products😊
Thanks for the help, using this for an assignment where I have to come up with a hypothetical video game and come up with a pricing strategy proposal
This was probably the best video on price I have seen! Thank you!
Glad you liked it 😊
Vry effective nd comprehensive lecture as a management professional in my point of view.Appreciated👍
Hey ! show some respect to someone who is sharing knowledge.
Thank you so much for this informative video! The explanations about pricing strategy and its importance were very comprehensive and useful. The examples you provided really helped understand the topic better. Could you please share more about how businesses can adjust their pricing strategies in response to market changes?
thanks for the video, such a helpfull video for a beginner like me
URE SO UNDERRATED MY GUY!!! IMMA BINGE WATCH ALL YOUR VIDEOS!!
Thank you for this informative video. Great job!
Nice explanation with understanding way🎉🎉🎉
Explains pricing very well.
This is stellar work; akin to a stellar book that explored these ideas thoroughly. "Game Theory and the Pursuit of Algorithmic Fairness" by Jack Frostwell
Bro released the video on christmas day. You are really dedicated 🎉
Thanks😅😅
Love everything; you’re doing great
Nice! Short and clear.
most important video 💓
Worth watching 🙌
Glad you liked it 😁
this was very informative ... can you make a video discussing the three strategies when determining prices.
glad you find this video informative. I will that topic in mind for the next video
I need more videos like this
I like the video its fun to say dollar instead of dollars sometimes
Thanks 🙏🙏🎯
Thanks, great for exam preparation
No what I'm looking for but I'm sure it will help others
I'm studying at economics faculty and was interested in schemes and tools or mb useful tips not in an obvious base:/
where are the tools you mentioned?
great video
Giving higher price lets giving higher quality and more revenue as a result
THANK YOU SO MUCH
can u tell me something about backward pricing? u may have explained it in the video, but i can't stick that pricing to any explanation
Customer willingness to pay also plays a factor in determining price.
Thank you for information you shared to us💚
Welcome! ✨❤️ Glad you liked it
7 Pricing Strategies in Marketing
Thanks for the information 🤠🤠
Any time!
nice so farrrr
Can you please tackle how chinas products are much cheaper? And what does mass producing do with it? I dont really understand hahahhaa ty
China has total control over all its levels of production. They also have cheap labour and so they incur less cost in production than other countries.
This isn’t entirely true. Mexico is going to surpass China in manufacturing. Think about the Chinese yen is going to surpass the U.S. dollar so the labor isn’t cheap. We’re paying too dolalr for Chinese labor meanwhile the Mexican peso is half the U.S. dollar
China has cheap labor, no union, no retirement plans, also chinese govt gives locals big tax incentives so they can be more cheaper than foreign products
Great
The price should not be much higher than other competitors... I disagree! this statement says it's about the price only and nothing else matters. How about Apple i.e. or Gucci and Ray Ban etc.
Thanks for this video
Welcome ✨
So to conclude the video: you have to charge more than it cost you😐
thanks
Let's go
You only calculated the variable cost to cover business expenses but you forgot to calculate the fix cost as well. Business will go broke if they dont cover their entire cost on the long term
why do you hate plurals?
💥
Thankyou
You’re welcome 😊
The video is informative but man is the grammar horrible. It’s like this voiceover is computer generated or it’s just someone reading off a literal translation from another language. Super disjointed to a native English speaker.
Will keep that in mind and improve our content. Thanks for feedback ✨
Right, why did they hire a native speaker yet he didn't correct the grammar? Also it's not very gender inclusive. "Businessmen" and all examples of business owners are men. I do appreciate the information though.
How to grow your online presence.
First viewer
❤❤
Dollars….its dollars, as in multiple
Just wondering if this VO was AI? ALways saying "15 dollar" instead of "15 dollarS" hmmmm
My mistake, will keep in mind in the next video.
Yeah, it is. The voice sounds so unnaturally stiff, and there were a lot of speech problems that I noticed. This whole video is made by AI, and more than likely, the script is too.
So this isn't even a real person giving us advice, just a machine.
Five dollar? 10 dollar? That a lot of dollar!
The Four Ps
Price
Promotion
Place
FIVE DOLLA HOTDOGS!
Isn’t it dollarS
you lost me once you used Oreo as an example for a price breakdown, everything that followed was in theory sound, but is pretty detached from the reality. have you ever worked in a company supply line before or is this all just based on hearsay? you listed off basic concepts but none of these are "tips you can use to make your product more compelling and valuable".
no one needed you to start with what a price is
Dont be rude bud
I needed
I did.
@alaign31 no one needed u in this life either
Then go look up more advanced topics.
Five dollar
*promo sm*
Great content! (but the voice over is whack)
Sorry for the voice-over, I will try to improve it.
@@theleaderstalk 1:40
1:49 1:50
I don't see anything wrong...
10 dollar
The intro is totally unnecessary.
Whomever wrote this doesn't know how to write. The ai voice isn't terrible though
Good video but the English Grammar is terrible - why not use a free tool like Grammarly so it teaches you how to speak properly? This sounds like it was written by a non-native English speaker.
Will work on that ✨ thanks for feedback
Thank you for this video
Welcome! Hope you liked the video