The Process of Rapidly Adjusting Prices Based on Information Gathered

question 121

Multiple Choice

The process of rapidly adjusting prices based on information gathered on consumers' preferences and their responsiveness to changes in price is called

• A)yield management.
• B)elasticity management.
• C)brand management.
• D)marketing.

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Definitions:

Decline Effect

The phenomenon where the strength of a scientific finding or the size of observed effects tends to decrease over time with subsequent studies or experiments.

Physical Height

The measurement of how tall an individual or structure is, typically measured from the base to the top.

Correlation

An indicator quantifying the degree to which multiple variables co-vary.

Popularity

The state or condition of being liked, admired, or supported by many people.