Personalized pricing
Internet retailers might do well to tailor their prices based on the individual customer, according to a Knight-Ridder news service story that ran September 17 in publications including the Standard-Examiner (Ogden, UT).
"I have no doubt that [personalized pricing] can be very effective for retailers, and I think we're going to see a lot more of it in the future," Eric Brynjolfsson, co-director of the Center for e-Business@MIT, said in the story. "The more that the retailer knows about you, the more that they'll be able to target your pricing." The article also reported that "Brynjolfsson points out that this type of pricing... will help customers who aren't willing to pay high prices get good deals... But overall, it's not going to benefit most consumers."
A version of this article appeared in MIT Tech Talk on November 8, 2000.
