Consumers buy candy bars,snacks,and soda pop from vending machines.Traditionally,the price of each of these products is about 60 cents.If a marketer charges a significantly higher price for such products dispensed by vending machines,sales are likely to decline.In order to avoid such declines in sales,marketers tend to be very consistent in the price charged for vending machine products.This is an example of marketers employing a _____ strategy.
A)below-market pricing
B)skimming pricing
C)penetration pricing
D)customary pricing

Question

Quizplus · Accepted Answer

Customary pricing is a strategy where the price of a product is set based on traditional, established pricing practices within the industry or market. In this case, the traditional price for vending machine products is around 60 cents, and deviating significantly from this price could result in a decline in sales. Therefore, marketers employ customary pricing to maintain consistency and avoid sales declines. Options A, B, and C do not apply to this scenario.

Consumers Buy Candy Bars,snacks,and Soda Pop from Vending Machines