ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Online aptitude tests for job applicants
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Automated inventory management systems
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Dynamic pricing
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Digital production capacity allocation
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Detailed explanation-1: -Dynamic pricing-also known as surge pricing, demand pricing, or time-based pricing-is a strategy where businesses adjust the prices of their offerings to account for changing demand. For instance, an airline will shift seat prices based on seat type, number of remaining seats, and time until the flight.
Detailed explanation-2: -Dynamic pricing, also called real-time pricing, is an approach to setting the cost for a product or service that is highly flexible. The goal of dynamic pricing is to allow a company that sells goods or services over the Internet to adjust prices on the fly in response to market demands.
Detailed explanation-3: -What is a dynamic pricing tool? A dynamic pricing tool is a powerful solution that suggests prices for your products based on a set of rules and parameters. Define the requirements for your products and adjust more competitive prices.
Detailed explanation-4: -Dynamic pricing based on groups. Dynamic pricing based on time. Cost-plus pricing. Competitor-based pricing. Value-based pricing (price elasticity) Price skimming. Bundle pricing. Penetration pricing.