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:

Economic

Relating to the production, distribution, and consumption of goods and services, or the wealth and resources of a region or community.

Ambiguous Job Boundaries

Ambiguous job boundaries describe a situation where the scope and responsibilities of a job role are unclear, leading to confusion and potential overlap of duties among employees.

Conflict Trigger

A specific incident, misunderstanding, or situation that immediately escalates tensions or disagreements, leading to a conflict.

Communication Breakdowns

Occurrences where communication fails or becomes ineffective, leading to misunderstandings or conflict.