Setting different prices for products and services depending on individual buyers and purchase situations is referred to as
A)price lining.
B)customary pricing.
C)a flexible-price policy.
D)price fixing.
E)discretionary pricing.

Question

Quizplus · Accepted Answer

A flexible-price policy is the practice of setting different prices depending on a variety of factors, including individual buyers, purchase quantities, and purchase situations. This strategy is commonly used in industries such as technology and automotive, where discounts can be offered based on upgrades, package deals, or other criteria. It allows businesses to tailor their pricing strategy to specific customers and situations, creating a more customized and competitive approach to pricing.

Setting Different Prices for Products and Services Depending on Individual