Inventions or Innovations from Applied Science or Engineering Research Are

question 108

Multiple Choice

Inventions or innovations from applied science or engineering research are referred to as

• A) scientific discoveries.
• B) theoretical development.
• C) technology.
• D) patents.
• E) dynamic engineering.

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Definitions:

Seasonal Demand

Fluctuations in the market demand for certain products or services that occur at specific times of the year.

Yield Management Pricing

A pricing strategy that adjusts prices based on changes in supply and demand, commonly used in the airline and hotel industries.

Skimming Pricing

A pricing strategy where a product is initially sold at a high price to target customers who are less price-sensitive, before gradually lowering the price.

Prestige Pricing

A pricing strategy where prices are set higher than average to project exclusivity, quality, or luxury, appealing to consumers' status and prestige.