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Surge pricing takes place when a service provider
raises the price of its product or service as demand outstrips supply
follows preset prices immune to demand and supply dynamics
fixes a minimum price for its services
fixes an average price on the basis of transactions carried over a day
Surge pricing also referred as Dynamic pricing is a pricing strategy in which busi nesses set flexible prices for products or service based on current market demands. It is a common practice such as in hospitality, travel, retail etc.
By: Munesh Kumari ProfileResourcesReport error
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