ExampleCustomers in a particular country are accustomed to paying $9.99 for a month of unlimited streaming music. This becomes a common expectation. In this environment, a service that launches at $11.99 may see few subscribers even if they have premium features. A service that launches for $7.99 may attract business with little effort.
|Overview: Customary Pricing|
|Type||Price StrategyPrice Economics|
|Definition||Basing prices on price levels that customers have come to expect.|
|Related Concepts||Price PointsSticky PricesPricing Strategy|