Changing the prices of products based on the level of demand characteristics of the customer is called ________ pricing.
A)menu
B)dynamic
C)flexible
D)asymmetric
E)customized

Question

Quizplus · Accepted Answer

Dynamic pricing is the act of changing the prices of products based on the level of demand characteristics of the customer. It involves analyzing data such as sales history, pricing trends, and customer behavior to determine the optimal price point. Menu pricing refers to a fixed price based on a predefined menu, while flexible pricing allows the customer to negotiate the price. Asymmetric pricing focuses on charging different prices to different customers for the same product. Customized pricing refers to a unique pricing structure tailored to each individual customer. Therefore, dynamic pricing is the best answer in this scenario.

Changing the Prices of Products Based on the Level of Demand