Improvements in Technology Have Significantly Increased the Quality of Products

question 35

True/False

Improvements in technology have significantly increased the quality of products, as well as helped reduce costs.

---

Definitions:

Penetration Pricing

A pricing strategy where a product is introduced to the market at a low price to attract customers away from competitors, with the aim of quickly gaining market share.

Skimming Pricing

A pricing strategy where a high price is set for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price.

Penetration Pricing

A market strategy where a product is introduced with a low price to attract customers and gain market share before eventually increasing the price.

Demand-oriented

Pricing strategy or manufacturing approach that is guided by the level of demand from consumers or market conditions.