High-low pricing (or hi-low pricing) is a type of pricing strategy adopted by companies, usually small and medium-sized retail firms, where a firm charges a high price for an item and later when the item's popularity has passed, sell it to customers by giving discounts or through clearance sales.[1] The basic type of customers for the firms adopting high-low price will not have a clear idea about what a product's price would typically be or must have a strong belief that "discount sales = low price" or they must have strong preference in purchasing the products sold in this type or by this certain firm.[2]