The Royal Ontario Museum in Toronto offers discount ticket prices to students and senior citizens. Which type of pricing objective does this illustrate?

Question

Quizplus · Accepted Answer

Offering discounts to students and senior citizens is an example of patronage-oriented pricing. The ROM is trying to attract and retain these groups as loyal customers by providing them with a lower price point. This pricing strategy is not focused on maximizing revenue or profitability, but rather on building relationships with customers.

The Royal Ontario Museum in Toronto Offers Discount Ticket Prices