When Microwave Ovens Were in the Introduction Stage of the Product

question 221

Multiple Choice

When microwave ovens were in the introduction stage of the product life cycle, some consumers were willing to pay exorbitant prices for the innovative ovens. Taking advantage of this strong consumer desire, marketers set the price for microwave ovens at the highest initial price that customers with a very strong desire for the product were willing to pay. Marketers of microwave ovens were using a ___________pricing strategy.

• A)prestige
• B)skimming
• C)penetration
• D)price lining

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Definitions:

Cholecystokinin

A hormone secreted by cells in the small intestine that stimulates the digestion of fat and protein.

Endocrine Cells

Cells that release hormones directly into the bloodstream to regulate body functions.

Small Intestine

A part of the digestive system where most of the digestion and absorption of nutrients and minerals from food takes place.

Chymotrypsinogen

Chymotrypsinogen is an inactive precursor (zymogen) of the digestive enzyme chymotrypsin, which is produced by the pancreas.