Final answer:
Another name for easy pricing plans is 'flat-rate pricing,' a strategy where a single fixed fee is charged for a product or service, making the purchase process straightforward and predictable.
Step-by-step explanation:
Another name for easy pricing plans is "flat-rate pricing". This term refers to a pricing strategy where a single fixed fee is charged for a product or service, regardless of usage or consumption levels. Flat-rate pricing is designed to simplify the purchasing process for both the provider and the consumer, as it avoids the complexity of variable pricing structures based on different tiers or usage rates.
For example, a streaming service might offer unlimited access to its library of content for a flat monthly fee, rather than charging based on the number of hours viewed. This approach can be appealing because it offers predictability for budgeting and eliminates concerns about incurring additional charges.
Businesses might choose flat-rate pricing for its marketing advantages. It allows for clearer communication of the value proposition to potential customers, which can lead to increased customer satisfaction and loyalty. However, businesses need to carefully consider their cost structures to ensure that flat-rate pricing is sustainable over time.