With _____ pricing, a variable rate is used for each customer, often based on a product’s or a service’s demand.DynamicA la carteValue-basedMarket-based

Pricing StrategiesProductA: Competition-based pricing1. GroceriesB: Customer value-based pricing2. Airline ticketsC: Cost-based pricing 3. Luxury goods

8 Explain one way in which promotion can be used to extend a product’s life cycle.

In the service industry, customer satisfaction is often based on perception.True false question.TrueFalse

For an adjustable-rate mortgage, how often can the interest rate change?*BiannuallyAnnuallyMonthlyIt varies based on the loan terms

Analyse one reason why a business might use competitive pricing and not a cost-based pricing method for an existing product.