$2$ points

Netflix has three different subscription plans:

Astandard plan with ads priced at $$7\mathrm{.}00$ per month.

Astandard plan without ads priced at $$15\mathrm{.}50$ per month, with the option to add extra member slots for an additional $$7\mathrm{.}99$ each per month.

A premium plan priced at $$23\mathrm{.}00$ per month, which also allows for adding extra member slots at $$7\mathrm{.}99$ each.

The introduction of the premium plan alongside the standard plan without ads led to a significant increase in customers opting for the $$15\mathrm{.}50$ standard plan. Which principle of marketing pricing strategies does this scenario best illustrate? $($Choose the best answer$)$

Premium Pricing

Cost$-$Plus Pricing

Decoy Effect

Price Skimming

Psychological Pricing