Price Personalization: An Indian Perspective

Personalized pricing is a form of pricing where different customers are charged different prices for the same product depending on their ability to pay, based on the information that the trader holds of a potential customer. Pricing plays a relevant role in the decision-making process by the consumers, and a firm’s performance can be determined by the ability of the business entities to execute a pricing strategy accordingly. Further, pricing also determines the quality, value, and willingness to buy. Usually the willingness of a consumer depends on transparency and fairness.

Technological developments have enabled online sellers to personalize prices of the goods and services.