Chef Brown's Health Food Store sells nutritional,energy-producing foods.Product prices are adjusted frequently to meet the needs of individual customers and situations.For example,long-time customers receive discounts.This strategy is most likely an example of ________ pricing.
A) zone
B) competition-based
C) dynamic
D) basing-point
E) penetration

Question

Quizplus · Accepted Answer

The strategy of adjusting prices frequently to meet the needs of individual customers and situations is most likely an example of dynamic pricing, which involves setting flexible prices based on demand, supply, and other external factors. This approach allows businesses to stay competitive and responsive to market changes, as well as to differentiate their offerings based on individual customer preferences and behaviors. Zone pricing refers to setting different prices for different geographical areas, while competition-based pricing involves setting prices based on what competitors are charging. Basing-point pricing involves adding freight charges to the price of goods based on the location of a specific "basing point." Penetration pricing involves setting prices low to gain market share, and then raising prices once the business is established.

Chef Brown's Health Food Store Sells Nutritional,energy-Producing Foods