Briefly define and explain dynamic pricing. Select a company that uses (or has used) dynamic pricing

Question

Briefly define and explain dynamic pricing. Select a company that uses (or has used) dynamic pricing and respond to the following questions:
•    Explain how the company you have chosen uses dynamic pricing.
•    Discuss the benefits and drawbacks of dynamic pricing for that particular company.
•    Conclude with a summary of your findings (Perloff, 2007).
•    In your own words, post a response to the Discussion Board and comment on other postings.

Summary

The question belongs to Economics and it is about pricing, particularly belongs to dynamic pricing. In this question, an example of a company using dynamic pricing has been discussed. Dynamic pricing is mostly used in airlines industry where this concept helps in earning additional revenues or covering up potential losses.

Total Word Count 233