Question: What is the difference, described in Chapter 1 , between flexible pricing and interactive pricing? Flexible pricing is when the seller simply states the price

What is the difference, described in Chapter

1,

between flexible pricing and interactive pricing?

Flexible pricing is when the seller simply states the price of an item is variable; interactive pricing is when the buyer

s purchase price is variable.

Interactive pricing is based on an interaction between the four elements of the marketing mix, whereas flexible pricing is used only in barter situations.

There is no difference between flexible and interactive pricing; they are synonymous terms.

Flexible pricing is used when a seller has continually varying costs, whereas interactive pricing is used when demand is continually varying.

Flexible pricing occurs when the price of an item is not listed but is determined by the seller alone; interactive pricing occurs when a price results from buyer

seller interactions such as those that occur at an auction.

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