Skimming Pricing Refers to

question 310

Multiple Choice

Skimming pricing refers to

• A) setting the lowest initial price possible when introducing a new or innovative product in order to "skim" sales from competitors.
• B) setting the highest initial price that customers who really desire the product are willing to pay.
• C) setting a low initial price on a new product to appeal immediately to the mass market.
• D) the practice of replacing promotional allowances with higher manufacturer list prices.
• E) setting a high price so that quality- or status-conscious consumers will be attracted to the product and buy it.

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Definitions:

Opponent-Process Theory

Opponent-Process Theory is a psychological and neurological model that explains how humans perceive colors as the result of complex processes involving opposing responses of color pairs.

Young-Helmholtz Theory

A theory of color vision proposing that the eye perceives colors through the response of three different kinds of cones, each sensitive to red, green, or blue light.

Opponent-Process Theory

A theory that suggests emotions are regulated by mechanisms that operate in opposing pairs, such as pleasure and pain or fear and relief.

Turned "On"

Refers to activating or starting the operation of a device or system, making it ready for use.