Question

A computer-based pricing technique which attempts to lessen pricing errors and speculations in order to determine the best pricing structures for individual stores based on their priorities is known as _________.

1) skim pricing
2) optimal pricing
3) dynamic pricing
4) value-based pricing
5) penetration pricing

Answer 1

Dynamic pricing is a computer-based pricing technique that optimizes pricing structures for individual stores based on their priorities.

Step-by-step explanation:

The computer-based pricing technique which attempts to lessen pricing errors and speculations in order to determine the best pricing structures for individual stores based on their priorities is known as dynamic pricing. Dynamic pricing is a strategy where prices for products or services are adjusted in real time based on various factors such as demand, competition, and inventory levels. This helps businesses optimize their pricing strategies and maximize revenue by offering the right price to the right customer at the right time.