Description: Pay-what-you-want is a pricing mechanism where consumers can decide how much to pay for a product or service. Variations of this idea have been employed widely over the years. Public museums, such as New York’s Metropolitan Museum of Art, have long allowed nominally free entry but with requests for donations at entry and/or exit.
Date: Dec 20, 2022
Questions for discussion:
- Summarize the key research reported.
- What does this mean for marketers considering using this pricing mechanism?
- Do you think this model should be used by new media and entertainment companies like Netflix?