________ is a business strategy of offering a basic version of a product free of charge and then charging for upgraded versions of the product.
A) Prestige pricing
B) Freemium
C) Price segmentation
D) Reverse marketing
E) Dynamic marketing

Question

Quizplus · Accepted Answer

Freemium is a business model where the basic version of a product is offered for free, while the premium or upgraded versions are only available at a cost. This strategy aims to attract more customers by offering basic features for free and then generate revenue from the premium features or services that customers would like to access. For instance, popular freemium business models include apps like Spotify, Evernote and Dropbox where customers are offered basic services for free but are required to pay to get more advanced features.

________ Is a Business Strategy of Offering a Basic Version