All of the Following Are True of Dynamic Pricing Except

question 11

Multiple Choice

All of the following are true of dynamic pricing except:

• A)Anonymity often is a key ingredient.
• B)Buyers and sellers interact with bids and offers in real time.
• C)E-malls are a prime example of this pricing model.
• D)A deal is struck when there is an exact match between a buyer and a seller on price,volume,and other variables,such as location or quality.

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Definitions:

Total Quality Management (TQM)

A management strategy aimed at embedding awareness of quality in all organizational processes, seeking continuous improvement.

Pareto Analysis

A decision-making tool that uses the principle that 80% of effects come from 20% of causes to prioritize actions or problem-solving efforts.

Flow Chart

A graphical representation of a process or system showing the sequence of steps or operations using symbols and arrows.

Control System

Mechanisms or procedures implemented to guide activities towards achieving organizational objectives, often through monitoring and feedback.