In this pricing strategy, customers are asked how much they would pay for the product:
A)skimming
B)loss-leader
C)customer-led
D)competition-led

Question

Quizplus · Accepted Answer

The pricing strategy described is customer-led pricing, where the price is based on the amount customers are willing to pay for the product. This approach can be useful for new or unique products where there is no established market price or for businesses looking to gauge customer demand and price sensitivity. Skimming involves setting a high price initially and gradually lowering it, while a loss-leader involves selling a product at a low price to attract customers and encourage additional purchases. Competition-led pricing involves setting prices based on what competitors are charging.

In This Pricing Strategy, Customers Are Asked How Much They