What are the benefits of surge pricing?
Surge pricing helps balance supply and demand, ensuring availability during peak times.
Can you give me an example of where surge pricing is used?
Sure! Ride-sharing services like Uber use surge pricing during high demand periods to incentivize more drivers to get on the road.
Does surge pricing affect customer satisfaction?
It can, as some customers may feel frustrated by higher prices, but it also ensures they can get a ride when they need it.
Are there any downsides to surge pricing?
Yes, it can lead to negative perceptions and may drive some customers away, especially if they feel prices are too high.
How do companies determine surge pricing rates?
Companies typically analyze real-time data on demand, supply, and historical trends to set surge pricing rates.
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