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

Question

Quizplus · Accepted Answer

This is the definition of a flexible-price policy. This strategy allows for pricing to vary based on factors such as the customer's bargaining power, order size, and time of purchase. This can help companies maximize their profits while still meeting the needs and constraints of individual buyers. Price lining refers to offering multiple price points for products, customary pricing is based on tradition, price fixing is illegal, and discretionary pricing is another term for flexible pricing.

Setting Different Prices for Products and Services Depending on Individual