setting some very low prices to attract customers, but trying to sell more expensive models or brands to the customer in the store is called .

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05-12-2022
Business

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setting some very low prices to attract customers, but trying to sell more expensive models or brands to the customer in the store is called .

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ArpitaK ArpitaK · Answer 1 · 2022-12-07T21:48:01-05:00

Setting some very low prices to attract customers, but trying to sell more expensive models or brands to the customer in the store is called Bait pricing.

Bait pricing is a marketing technique that involves tricking customers into believing they will have to pay less for a more expensive product. The phrase "bait-and-switch pricing" is shortened to this. This strategy promotes prices that are frequently unexpectedly cheap, or at least significantly lower than those that are typically offered in the market. Many times, a company would promote a product at an extremely low price just to later admit that the original item displayed is not actually available. It could be replaced by a more costly alternative.

Other industries may also use bait-and-switch pricing strategies. For instance, businesses might apply similar techniques to lead potential customers to believe that a company is providing better working benefits.

Learn more about Bait Pricing here:

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