Hooli computers have decided to procure processing chips needed for its laptops from external suppliers instead of fabricating them in their facilities. The firm will have more flexibility in buying and comparing the costs of goods and benefits.
What do you mean by the flexibility of prices?
- Flexible pricing is one of the multiple pricing methods that could be used to arranging up costs for goods and services.
- In the case of flexible pricing, the last price is clear, meaning that sellers and buyers can discuss prices, to either lessen them or make them up from the actual price.
- Flexible pricing makes the possibility of a more efficient marketplace suddenly realizable. When prices can vary continuously with changes in supply and need at little cost, buyers can more readily find the cost at which they are willing and able to buy.
- For sample, a customer requests a service from a hotel, that is usually not supplied – hence no price is set making it open for negotiations. In this case, hotels can work with a flexible price policy allowing customers to purchase the menu items for an additional charge.
To learn more about flexibility of prices, refer to:
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