Which of the following best describes Ryanair's ticket pricing methodology?

Ryanair's ticket pricing methodology is best described by dynamic pricing influenced by competition. This approach allows the airline to adjust ticket prices in real-time based on a variety of factors, such as demand fluctuations, competitor pricing, and even changes in the marketplace. By doing so, Ryanair can maximize revenue by capitalizing on busy travel periods while also adjusting prices downward during times of lower demand to fill seats.

This pricing method contrasts significantly with the idea of fixed pricing based solely on distance traveled, which does not allow for flexibility based on market demand or competitive influences. Additionally, the concept of flat rates devoid of demand considerations would restrict an airline's ability to optimize profits and effectively manage inventory. Finally, adhering strictly to industry standards would stifle innovation and responsiveness to real-time market conditions, which are key elements in Ryanair's business model, enabling them to remain competitive in the low-cost airline sector.