Using the practice of ________, a product's price can easily be adjusted to meet changes in the marketplace.
A) captive pricing
B) dynamic pricing
C) promotion pricing
D) price bundling
E) price lining

Question

Quizplus · Accepted Answer

Dynamic pricing refers to the practice of adjusting a product's price in response to changes in the marketplace, such as changes in demand or competitor pricing. It allows companies to remain competitive and maximize profits by charging the appropriate price at the right time. Captive pricing, promotion pricing, price bundling, and price lining are pricing strategies that do not involve such adjustments based on changes in the marketplace.

Using the Practice of ________, a Product's Price Can Easily