The pricing approach that charges different prices for different customers, days, and demand is called what?

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Multiple Choice

The pricing approach that charges different prices for different customers, days, and demand is called what?

Explanation:
Dynamic pricing is the practice of adjusting prices based on demand, timing, and who the customer is. It aims to capture more value when demand is high and fill inventory when it’s lower, by changing prices in real time or near-real time. You see this in airline and hotel pricing, ride-hailing surge pricing, and event tickets that cost more on peak days. Other methods set a fixed price based on costs, initial high prices to skim early demand, or prices tied to what customers perceive as the product’s value—none of which inherently switch prices with demand and time in the same way.

Dynamic pricing is the practice of adjusting prices based on demand, timing, and who the customer is. It aims to capture more value when demand is high and fill inventory when it’s lower, by changing prices in real time or near-real time. You see this in airline and hotel pricing, ride-hailing surge pricing, and event tickets that cost more on peak days. Other methods set a fixed price based on costs, initial high prices to skim early demand, or prices tied to what customers perceive as the product’s value—none of which inherently switch prices with demand and time in the same way.

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