Consumers buy water and soda from vending machines.Usually the price of each of these products is about $1....50.If a marketer charges a significantly higher price for such products dispensed by vending machines,such as
)50 per item,sales are likely to decline.In order to avoid declines in sales,marketers tend to be very consistent in the prices they charge for vending machine products.This is an example of marketers employing a __________ strategy.
A) below-market pricing
B) skimming pricing
C) penetration pricing
D) loss-leader pricing
E) customary pricing

Question

Quizplus · Accepted Answer

The consistent pricing strategy employed by marketers for vending machine products is an example of customary pricing. This pricing strategy involves setting prices based on tradition or established norms among consumers. In this case, consumers have come to expect a certain price range for products sold through vending machines, and deviating significantly from this customary price could lead to a decline in sales.

Consumers Buy Water and Soda from Vending Machines