Many cosmetology schools allow their advanced students to style hair for "real-world" clients for a reduced fee. The students benefit from the experience, the clients get a less expensive haircut, and the school provides students with additional training while generating revenue as well. The haircut pricing is an example of
A) value pricing.
B) societal pricing.
C) revenue sharing.
D) barter.
E) cost-assist pricing.

Question

Quizplus · Accepted Answer

Value pricing is when a product or service is offered at a price that reflects the perceived value to the customer, which in this case is a less expensive haircut by students.

Many Cosmetology Schools Allow Their Advanced Students to Style Hair