When Coca-Cola tested vending machines that changed prices depending on the outside temperature, they were attempting to utilize price discrimination.

Question

Quizplus · Accepted Answer

Price discrimination involves charging different prices for the same product to different groups of customers based on their willingness to pay. In this case, Coca-Cola was attempting to charge higher prices during hotter weather, when customers may be more willing to pay for a cold beverage.

When Coca-Cola Tested Vending Machines That Changed Prices Depending on the Outside