Asked by Brianna Glenn on Feb 18, 2024
Verified
A grocery store offers cans of vegetables at 10 for $10.This is most likely which of the following pricing strategies?
A) skimming
B) fair pricing
C) psychological pricing
D) customer-led pricing
A) skimming
B) fair pricing
C) psychological pricing
D) customer-led pricing
Skimming
A high pricing strategy, generally used for new products or services that face very little or even no competition.
- Understanding different pricing strategies used by businesses.
- Recognizing the concept of skimming pricing strategy.
- Understanding the concept of fair pricing strategy.
Verified Answer
CP
Cheyenne Powell
Feb 18, 2024
Final Answer :
C
Explanation :
This is an example of psychological pricing, where the price is set at a round number ($1 per can) to appeal to customers' perception of a good deal.
Learning Objectives
- Understanding different pricing strategies used by businesses.
- Recognizing the concept of skimming pricing strategy.
- Understanding the concept of fair pricing strategy.