The question(s) for this discussion are as follows: Dynamic pricing adjusts prices in real-time based on various factors such as demand, competition, and customer behavior. How does AI enable dynamic pricing in today's market? Provide examples of industries or companies that effectively use AI-driven dynamic pricing. What are the advantages and disadvantages of dynamic pricing for both businesses and consumers?

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Customary Pricing

There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows: 

Multiple Unit Pricing

“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”