Description
Assignment Details:
Risk and uncertainty are inherent aspects of any business. It is impossible to avoid risk. Therefore, risk management is a vital part of management decision making. Understanding the type of risk that is associated with any business venture and ways to mitigate risk is the responsibility of business management.
Dynamic pricing allows businesses to set flexible prices in real time based on current market demands. You can think of dynamic pricing as allowing a business the fluidity and flexibility of changing prices rapidly to adjust to ever-changing markets. A component of dynamic pricing is price discrimination. Price discrimination is the practice of charging different customers different prices that are not based on the marginal costs of a business (Blair & Rush, 2018). Businesses can take advantage of dynamic pricing and price discrimination by charging different classes of consumers different prices with the goal of increasing profits.
In this Individual Project, you will create 10–12 slides for a PowerPoint presentation (with 200–250 words in the speaker notes per slide). Select 1 company that is using dynamic pricing.
Include the following in your presentation:
Describe dynamic pricing and its role in price discrimination.
Illustrate the 3 degrees of price discrimination, including an example of each.
Review this video for additional information on this topic.
Review this article for additional information on this topic.
Examine how dynamic pricing is used to increase profits in the international market.
Investigate how your chosen company takes advantage of dynamic pricing.
Evaluate the advantages and disadvantages of dynamic pricing for your chosen company.
Identify the risks associated with your company’s use of dynamic pricing.
Research the role that artificial intelligence (AI) or new technologies may play in influencing dynamic pricing.
Recommend additional strategies that your chosen company could implement to exploit dynamic pricing and discuss the potential impact on profitability
Description Assignment Details: Risk and uncertainty are inherent aspects of any
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