Dynamic pricing, also known as real-time pricing or variable pricing, is a pricing strategy in which the price of a product or service is constantly adjusted in response to changes in market conditions or customer demand. Dynamic pricing is often used in industries with high competition or volatility, such as online retail, travel, or entertainment, where prices can fluctuate significantly based on factors such as supply and demand, seasonality, or competition. Dynamic pricing allows businesses to respond quickly to changes in the market, and to maximize their revenue and profitability by setting the most appropriate price for their products or services at any given time. However, dynamic pricing can also be controversial, as it can be perceived as unfair or unpredictable by customers.