A PRICING STRATEGY IN WHICH THE BUYER AND SELLER BARGAIN TO REACH AN AGREEMENT ON THE PRICE OF A PRODUCT IS

• A. Cost-plus
• B. Haggling ✓
• C. Skimming pricing
• D. Penetration pricing

Haggling is the pricing strategy in which the buyer and seller negotiate to reach an agreement on the price of a product. This method involves a back-and-forth discussion between the two parties until they settle on a price that is acceptable to both. Haggling is commonly seen in markets and informal settings where there is no fixed price for goods or services, allowing for flexibility in pricing based on individual negotiations.

In haggling, both the buyer and seller have the opportunity to present their arguments for their desired price points, taking into account factors such as the quality of the product, market conditions, and personal preferences. The negotiation process can involve offers and counteroffers until a mutually agreeable price is reached. Haggling allows for a more personalized and interactive transaction experience compared to fixed pricing strategies.