Question

When a firm offers a very low price on a product to attract customers to a store, and once in the store, the customer is persuaded to purchase a higher-priced item, the practice is referred to as:________

Answer 1

Answer: Bait pricing

Explanation: Bait pricing also known as bait and switch pricing is a pricing method which deceive customers by luring them into a business shop with low prices and increasing the price once the customers come in.

It is the best pricing method that describes the question.