When Teresa went into the furniture store to buy a new sleeper sofa,she thought the prices quoted by the salesperson were too high,so she prepared to leave.As she neared the door,the salesperson asked if she would be interested in buying the sofa if the price was $150 lower.Teresa returned to the store,purchased the sofa,and felt like she had gotten a good deal.The furniture store uses:
A)price lining.
B)customary pricing.
C)a flexible-price policy.
D)price fixing.

Question

Quizplus · Accepted Answer

The furniture store uses a flexible-price policy, as the salesperson was able to adjust the price in response to Teresa's hesitation. This allowed them to make a sale and satisfy the customer's desire for a lower price. Price lining involves offering products at different price points, customary pricing uses traditional or accepted pricing for products, and price fixing is a practice where competitors agree to set prices at a certain level, which is illegal. None of these apply to the scenario described.

When Teresa Went into the Furniture Store to Buy a New