Charging lower prices at certain times to encourage customers to come during slack periods is known as _____.

Question

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Off-peak pricing refers to the strategy of charging lower prices during periods of low demand or low activity. This is a common strategy in a variety of industries, including travel, hospitality, and entertainment. By offering discounts during off-peak times, companies can encourage customers to visit or purchase when they might not otherwise have done so, while also helping to smooth out demand and maximize capacity utilization. Price gouging, on the other hand, refers to the practice of raising prices excessively during times of crisis or shortage, while price lining refers to offering a range of prices for different products within a product line, and odd-even pricing refers to setting prices at odd or even numbers to create the impression of a bargain.

Charging Lower Prices at Certain Times to Encourage Customers to Come