A pricing strategy in which the nuyer and seller bargain to reach an agreement on the price of a product is_______

The pricing strategy in which the buyer and seller negotiate to agree on the price of a product is called "haggling". Haggling, also known as bargaining or negotiating, involves a process of back-and-forth discussion between the buyer and the seller until they reach a mutually acceptable price for the product or service. In this pricing strategy, the initial price offered by the seller is usually higher than what they expect to receive, while the buyer offers a lower price to start with. Then, the parties engage in a negotiation process until they both agree on a final price that satisfies them. Haggling is commonly used in markets where there is no fixed price for goods or services. It is a prevalent pricing strategy in many countries around the world, particularly in bazaars, street markets, and small shops. However, it is less common in larger stores or supermarkets, where prices are typically fixed and non-negotiable.