Databases that allow a company to examine an individual's purchase history, can be combined with real-time supply information that indicates how much of a service remains unsold. This information allows a firm to engage in:

Question

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Dynamic pricing is the strategy where prices are adjusted in real-time based on supply and demand, customer behavior, or market conditions. By analyzing an individual's purchase history and combining it with real-time supply information, a company can adjust prices to optimize sales and revenue, which is the essence of dynamic pricing.

Databases That Allow a Company to Examine an Individual's Purchase