Setting the Price of a New Product Higher Than Expected

question 101

Multiple Choice

Setting the price of a new product higher than expected in order to recover development costs is known as ______.

• A) penetration pricing
• B) price skimming
• C) psychological pricing
• D) price lining

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Definitions:

Feedback

Information or reactions received about a person's performance of a task, used as basis for improvement.

Job Design

The process of organizing tasks, duties, and responsibilities into a productive work unit to satisfy both organizational and individual employee needs.

Organizational Requirements

Organizational requirements are the necessary tasks, attributes, or conditions that an organization needs to function effectively and achieve its objectives.

Job Satisfaction

Job satisfaction is the degree to which an individual feels positive or negative about a job.