Big Mike's Health Food Store sells nutritional energy foods. The price of the products sold varies according to individual customer accounts and situations. For example, long-time customers receive discounts. This strategy is an example of ________.
A) time-based pricing
B) seasonal pricing
C) dynamic pricing
D) promotional pricing
E) penetration pricing

Question

Quizplus · Accepted Answer

The strategy used by Big Mike's Health Food Store is an example of dynamic pricing, where prices vary for individual customers based on different factors such as loyalty, past purchases, etc. This approach is commonly used by businesses to maximize profits by charging different prices to different customers based on their willingness to pay.

Big Mike's Health Food Store Sells Nutritional Energy Foods