Retro Hits,a local band covering songs from the 1980s and 1990s,decided they wanted to expand to more college students.Research showed students thought the current $25 ticket price was too high for a local band.To strengthen ticket demand,Retro Hits began offering $15 tickets to all fans who checked in on Facebook.The band was using a

Question

Quizplus · Accepted Answer

Retro Hits is using a variable pricing strategy by offering different prices to different segments of customers (college students vs general fans) based on their perceived willingness to pay. The use of Facebook check-ins as a requirement for the discounted price is a form of price discrimination, which helps to capture more value from consumers who are willing to pay more for the same product/service.

Retro Hits,a Local Band Covering Songs from the 1980s and 1990s,decided