Setting the Highest Initial Price That Customers Really Desiring the Product

question 210

Multiple Choice

Setting the highest initial price that customers really desiring the product are willing to pay when introducing a new or innovative product is referred to as

• A) a skimming strategy.
• B) a penetration strategy.
• C) a price-lining strategy.
• D) an experience-curve pricing strategy.
• E) a prestige pricing strategy.

---

Definitions:

Values

The abstract standards in a society or group that define ideal principles.

Abstract Standards

General guidelines or criteria not tied to specific examples or cases, often used for evaluation.

Communication

The act of conveying information and meaning through various methods, including spoken, written, non-verbal, and digital forms, facilitating understanding and connection.

Values

Core beliefs or standards that guide and motivate attitudes and actions in individuals and across societies.