Your Internet provider offers the lowest price in town for Internet service if you sign a two-year contract; however, the low price offer only lasts the first year. Which pricing strategy is the Internet company using to attract customers

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13-07-2022
Business

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Your Internet provider offers the lowest price in town for Internet service if you sign a two-year contract; however, the low price offer only lasts the first year. Which pricing strategy is the Internet company using to attract customers

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sharmaaashutosh169 sharmaaashutosh169 · Answer 1 · 2022-07-20T08:50:49+02:00

The high premium pricing strategy is used.

A premium pricing approach entails pricing a product higher than comparable ones. This method is also known as skim pricing since it attempts to "skim the cream" off the top of the market.

Here the internet provider is providing high speed internet at lowest cost if the two year contract is taken, now the user gets used to that speed and now will not be satisfied with the low speed so he will take the offer even if it is provided at high price.

This strategy of pricing is called premium pricing strategy.

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