Answer:This demand-based pricing strategy is an example of:DYNAMIC PRICING
Explanation:
dynamic pricing is a pricing strategy where by prices of product are adjusted every now an then to accommodate th changes in demand and supply response. Uber charges less when there is low demand to make sure that they get customers but they double or triple their prices when there is high demand because customers are in surplus.
Here are a few benefits of dynamic pricing
- one has major control on their pricing strategy
- it is flexible without interfering with the brand