Which Of The Following Statements Best Defines Dynamic Pricing?
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Dynamic pricing is a pricing strategy that uses current market conditions and customer behavior to adjust prices and optimize revenue. It is an automated form of price optimization that uses algorithms to set prices in real time, often in response to changes in supply and demand.
Dynamic pricing is the practice of setting flexible prices for goods or services based on constantly changing market conditions, such as supply and demand, competitor activity, and customer segmentation. It is also referred to as real-time pricing, demand pricing, or surge pricing.