How does dynamic pricing as part of the Price element in the Marketing Mix cater to specific market conditions?
1
It adjusts product availability based on customer preferences.
2
It leverages market demand, competition, and time sensitivity to set prices dynamically.
3
It ensures consistency in pricing across all channels to maintain brand value.
4
It applies fixed discounts during promotional periods to boost demand.
5
It evaluates consumer behavior and adjusts product design accordingly.