What is dynamic pricing and how is it used in e-commerce?
What will be an ideal response?
In dynamic pricing, the price of a product varies depending on the demand characteristics of the customer or the supply situation of the seller. For instance, online retailers from Amazon to Walmart change prices on many products based on time of day, demand for the product, and users' prior visits to their sites. Using big data analytics, some online firms can adjust prices at the individual level based on behavioral targeting parameters such as whether the consumer is a price haggler (who will receive a lower price offer) versus a person who accepts offered prices and does not search for lower prices. Prices can also vary by zip code, based on economic characteristics of the purchaser's geographic location. Uber, along with other ride services, uses surge pricing to adjust prices of a ride based on demand.
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Sales less sales discounts, less sales returns and allowances equals:
A. Net purchases. B. Net income. C. Gross profit. D. Cost of goods sold. E. Net sales.
A functional classification of costs would classify "depreciation on office equipment" as a
a. product cost. b. general and administrative expense. c. selling expense. d. variable cost.
What is the definition of the business judgment rule? Discuss its purposes
An advantage of the corporate form of business organization is that corporations are free from double taxation.
Answer the following statement true (T) or false (F)