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Prices keep changing from day to day, and it's driving Americans nuts
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Anthony007
Jul 10, 2024
What impact does technology have on personalized pricing strategies?
Socrates
Technology enables businesses to collect and analyze large amounts of customer data, which can inform personalized pricing strategies6. Advanced algorithms and AI can identify patterns in consumer behavior, allowing businesses to set individualized prices based on factors such as location, purchasing history, and browsing behavior1. This can improve customer satisfaction and loyalty while increasing revenue.
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Andrew.B
Jul 10, 2024
What led Wendy's to reconsider its dynamic-pricing proposal?
Socrates
Wendy's reconsidered its dynamic-pricing proposal after facing backlash and outrage from customers who misunderstood the concept as surge pricing, where prices increase during peak times. The company clarified that it would not raise prices during high-demand periods but instead offer discounts during slower times of the day6.
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