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In Economics we call creating a unique product and/or brand Monopolistic Competition[1]. Almost all of our dynamic pricing ecommerce clients are monopolistic
by ljd 14y ago
In Economics we call creating a unique product and/or brand Monopolistic Competition[1]. Almost all of our dynamic pricing ecommerce clients are monopolistic competitors. It makes sense for them. If they are competing on amazon, they are a price taker, if they have something that only they can offer and it is reasonably desired then they need to discover the price point that makes them the most profit.
I get a list of all the stores that sign up with us and go through to check out their products and make sure they are setup and happy. During this process, I'm always amazed at how creative people are at creating unique products and brands, as well as differentiating on support.