L6 Part 1
If the price is too low, how is it bad for sellers?
(the item may sell well, but) They may not make a sufficient profit.
What disadvantage did set prices have for companies?
Once a price was set, it was difficult for them to rase it later.
Why does Keiko give prices during sales as an example of dynamic pricing?
Because things are sold at lower prices during sales.
Such negotiation was ( ) convenient for ( ) buyers ( ) sellers.
Such negotiation was ( not ) convenient for ( either) buyers ( or ) sellers.
money that you gain by selling things or doing business, after your costs have been paid
profit
What does deciding a price require?
It requires a negotiation between buyers and sellers.
When did a new pricing system begin?
(It began) In the 1980s.
According to Jack, what kind of people live in New York?
Deciding a price requires a negotiation ( ) buyers ( ) sellers.
Deciding a price requires a negotiation ( between ) buyers ( and ) sellers.
to discuss something in order to reach an agreement, especially in business or politics
negotiate
Who was such negotiation not convenient for?
It was not convenient for either buyers or sellers.
What do meny companies now estimate by using AI?
They estimate future demand.
How can Jack buy a ticket at a reasonable price?
He (just) avoids weekend games.
They changed the price ( ) ( ) ( ) five times in just three weeks.
They changed the price ( as ) ( many ) ( as ) five times in just three weeks.
in a way that changes to suit new conditions or situations
flexibly
What did companies begin to do in the 19th century?
They began to sell the same product to every buyer at a set price.
What do many companies now consider when they decide prices?
They consider the season, day of the week, time of day, and even the weather.
In Emma's opinion, what is unbelievably unfair?
(It's unfair that) Latecomers got good seats at just 50 dollars.
An airline in America began to change its ticket prices frequently ( ) ( ) the expected number of passengers.
An airline in America began to change its ticket prices frequently ( according ) ( to ) the expected number of passengers.
not too expensive
reasonable
Because of set prices, what did people become free from?
They became free from time-consuming negotiations.
How often does a baseball team in Japan change the ticket price?
(They change [It changes] the ticket price) Every 15 minutes.
What does Teo say companies using dynamic pricing may lose in the long run?
(He says) They may lose both their profits and their customers' trust.
( ) ( ) ( ) ( ), companies may lose both their profits and their customers' trust.
( In ) ( the ) ( long ) ( run ), companies may lose both their profits and their customers' trust.
to ask an amount of money for goods or a service
charge