![]() Intuit accepts no responsibility for the accuracy, legality, or content on these sites. Diff: 1Page Ref: 722AACSB:Reflective Thinking31) All of the following are. Intuit does not endorse or approve these products and services, or the opinions of these corporations or organizations or individuals. Which of the following types of dynamic pricing adjusts prices based on the. We provide third-party links as a convenience and for informational purposes only. Readers should verify statements before relying on them. does not warrant that the material contained herein will continue to be accurate nor that it is completely free of errors when published. Accordingly, the information provided should not be relied upon as a substitute for independent research. does not have any responsibility for updating or revising any information presented herein. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Applicable laws may vary by state or locality. Additional information and exceptions may apply. This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business. People who need to fly a particular route will have to pay more during peak times. Airlines use price discrimination when they use demand-based pricing to change the price of airline tickets. Price discrimination also works when you have a captive audience. The retailer charges less for orders they ship from their warehouse because it costs less to process the request. However, Canada’s largest bookstore chain, Indigo, does the opposite. Some customers will pay a little more for the convenience of ordering online. Companies can factor in things like supply and demand changes, competitor pricing, and other market conditions to help set product prices. Algorithms and machine learning help facilitate this real-time pricing strategy. You might offer free shipping on your website but charge more for products purchased online than you do in the store, or vice versa. Dynamic pricing is a strategy that involves setting flexible prices for goods or services based on real-time demand. Take online versus offline sales, for example. You can justify price discrimination if it presents a customer benefit. ![]() An example of this would be senior discounts or lower prices for children. ![]() Third-degree price discrimination: This is when a business charges different prices to different types of consumers.Second-degree price discrimination: This is when a business charges different prices based on quantity sold-think discounts for bulk purchases.First-degree price discrimination: Also known as perfect price discrimination, this is when a business prices each product at its maximum value.There are three degrees of price discrimination. Price discrimination (also called variable pricing) occurs when a business sells the same products at different prices through different channels. ![]()
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