Question

In Shanghai, China, sellers of various fake watches have historically approached tourists as they exited tour buses, offering to sell the watches. The sellers then attempted to haggle with each of the tourists individually. What pricing strategy does this behavior resemble

Answer 1

Price Discrimination

Explanation:

Price discrimination defines that when one seller sells one product at different prices to different customers.

According to the given situation, Sellers of different fake watches contacted visitors as they were leaving bus tours and offering to sell them. The sellers then personally tried to haggle for each of the visitors, here sellers wants to sell the same product at different prices for his benefit. This indicates the price discrimination.