Dynamic Pricing Policy Refers to

question 89

Multiple Choice

Dynamic pricing policy refers to

• A)setting the price of a line of products at a number of different specific pricing points.
• B)setting the prices for all items in a product line to cover the total cost and produce a profit for the complete line, not necessarily for each item.
• C)deliberately selling a product below its customary price, not to increase sales, but to attract customers' attention in hopes that they will buy other products as well.
• D)setting different prices for products and services in real time in response to supply and demand conditions.
• E)adding a fixed percentage to the cost of all items in a specific product class.

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Definitions:

Pull Production

A manufacturing strategy where production is based on customer demand rather than speculative production, aiming to reduce waste and increase efficiency.

Zero Waste

An approach to resource management aimed at avoiding any waste by reusing products and materials in as many cycles as possible.

Cycle Time

The total time from the beginning to the end of a process, providing a measure of the efficiency of the process.

Production Improvements

Enhancements made to the production process to increase efficiency, reduce costs, or improve product quality.