Question: There are certain times when the demand for Uber rides increases ( bad weather, rush hour, special events, etc. ) . Uber uses surge pricing
There are certain times when the demand for Uber rides increases bad weather, rush hour, special events, etc. Uber uses surge pricing as a way of charging more during these periods of high demand. Customers arent always happy about this see for example, surge price and customer complaintsLinks to an external site. and traditional taxi cab drivers are happy to accuse their rivals of exploiting customers.
Considering the principles of "prospect theory" to address the psychological biases of its customers, which of the following marketing strategies could Uber employ to reduce negative reactions to surge pricing?
Uber Surge Pricing
There are certain times when the demand for Uber rides increases bad weather, rush hour, special events, etc. Uber uses surge pricing as a way of charging more during these periods of high demand. Customers arent always happy about this see for example, surge price and customer complaintsLinks to an external site. and traditional taxi cab drivers are happy to accuse their rivals of exploiting customers.
Considering the principles of "prospect theory" to address the psychological biases of its customers, which of the following marketing strategies could Uber employ to reduce negative reactions to surge pricing?
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