Examlex
Which term best describes the demand by all the consumers of a given good or service?
Dynamic Pricing
A pricing strategy where prices are adjusted in real time based on market demand, supply conditions, and other factors.
Prices Based
Refers to a pricing strategy determined by factors such as cost of production, competition, and perceived value by the consumer, often adjusted to market conditions.
Odd Pricing
A pricing strategy where items are priced slightly below a round number (e.g., $199.99 instead of $200), believing it psychologically encourages more sales.
Yield Management
A strategy for maximizing revenue even when a firm has a fixed amount of something (goods, services, or capacity).
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