The New Age Gallery has three admission prices for students, adults, and seniors, even though all three groups are entitled to the same services. This form of pricing is called ________.
A) psychological pricing
B) product-form pricing
C) customer-segmented pricing
D) captive product pricing
E) by-product pricing

Question

Quizplus · Accepted Answer

The pricing strategy used by the New Age Gallery is customer-segmented pricing, as they have different prices for different groups of customers (students, adults, and seniors) who receive the same services. This strategy allows the business to cater to different segments of customers with different price sensitivities and willingness to pay.

The New Age Gallery Has Three Admission Prices for Students