ENTREPRENEURIAL MARKETING
PRICING STRATEGIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Dynamic pricing involves adjusting prices ____ to meet the characteristics and needs of individual customers and situations.
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continually
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at its most profitable price
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once
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None of the above
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Explanation:
Detailed explanation-1: -Dynamic pricing is a pricing strategy where product prices are adjusted in real-time based on market demand, competition, and other factors. As opposed to setting a fixed price for your products, variable pricing methods allow you to respond to various metrics and circumstances and adjust accordingly.
Detailed explanation-2: -What is dynamic pricing? A dynamic pricing definition would be “a strategy that uses variable prices instead of fixed ones, selling the same product at different prices to different groups of people”. Simply put it’s a pricing strategy that utilizes variable prices instead of fixed ones.
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