Dynamic Pricing in Fast Food

What is the main idea behind Wendy's new AI technology?

• To create fixed pricing menus.

• To offer discounts during peak hours.

• To implement dynamic pricing based on market conditions.

• To eliminate competition by lowering prices.

Why might dynamic pricing be challenging for fast food restaurants like Wendy's?

• Because customers have limited options.

• Because it is illegal in many regions.

• Because it requires significant investment in technology.

• Because customers might choose competitors if prices are too high.

What factor is most important when consumers are in a hurry?

• Price

• Quality of food

• Brand reputation

• Location

What could be a potential downside of lowering prices to undercut competitors?

• It might attract more customers from competitors.

• It could improve customer loyalty.

• It might result in a price war with competitors.

• It could lead to increased sales.

What should Wendy's have focused on in their marketing strategy for dynamic pricing?

• Highlighting the increase in profits.

• Promoting the exclusivity of their products.

• Focusing on the technological advancements.

• Emphasizing the benefits to consumers.