What does OPP mean in BUSINESS

Open Price Point (OPP) is a pricing strategy that enables sellers to respond to changes in the market by automatically setting their own price points. OPP takes into account the rate of demand, supply, competition, customer values and profit margins in order to set prices that are fair and attractive to buyers.

With open price point, sellers can evaluate many different factors in order to determine what price points will maximize profits while still being attractive to buyers. This includes taking into account the rate of demand and supply, competitors' pricing strategies, customer values and profit margins. By analyzing all of these aspects, open price point helps sellers set profitable yet attractive prices for their products or services.

Since market conditions are constantly changing, it's important for sellers to review their pricing strategy regularly in order to ensure that they are staying competitive and maximizing their profits. It's recommended that open price point should be re-evaluated at least every few months or so in order to stay up-to-date with current market trends.