Manual Pricing
Manual Pricing is a business and product development methodology where prices for goods or services are set through human judgment, analysis, and decision-making, rather than relying on automated algorithms or dynamic systems. It involves evaluating factors like costs, market conditions, competition, and customer value to establish fixed or periodically adjusted prices. This approach is common in industries where pricing requires nuanced, qualitative insights or regulatory compliance.
Developers should learn about Manual Pricing when building applications for e-commerce, retail, or service-based businesses that need flexible, human-controlled pricing strategies, such as in B2B sales, luxury goods, or regulated markets. It's useful for scenarios where automated pricing might miss contextual factors like customer relationships, seasonal trends, or unique product features, ensuring prices align with business goals and market realities.