Demand-based pricing

Demand-based pricing is a way to decide what price to charge for a product or service. The idea behind it is that the price should be based on how many people want the product or service. If there are a lot of people who want the product or service, then the price should be higher. On the other hand, if there are fewer people who want the product or service, then the price should be lower. For example, if there are a lot of people who want to buy an expensive pair of shoes, then the store can charge a higher price for the shoes; if there are fewer people who want to buy the shoes, then the store can lower the price. By using demand-based pricing, businesses can make sure they get the most money for their products and services.