Final answer:
Streaming vendors are required to provide quality services which include streaming quality, customer service, and a wide range of content.
Step-by-step explanation:
The requirement and responsibility of the streaming vendor generally involve providing a consistent, high-quality streaming service to customers. To meet this responsibility, vendors like Netflix have introduced tiered pricing models for different levels of access to their services.
This strategy allows customers to choose plans that fit their budget while accessing various content libraries. The vendor must also address factors such as streaming quality, customer service, and content variety to remain competitive.
The tiered pricing structure can significantly affect buyer's purchasing choices as it directly correlates with what the customer values versus what they are willing to pay. It's a balancing act for the vendor to price their service options in a way that maximizes subscription numbers while also maximizing revenue.
Part of this responsibility includes analyzing consumer behavior and adapting pricing and service offerings to meet changing demands and expectations.