Newport Industries Is One of the First Producers of a Unique

question 91

True/False

Newport Industries is one of the first producers of a unique consumer product. The company has chosen a low-price strategy, hoping this will enable them to quickly attract many customers while discouraging potential competitors from entering the market. Newport's approach to pricing is a classic example of the skimming strategy.

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Definitions:

Operant Conditioning

A system of learning in which the expression of behavior is controlled through the use of incentives or penalizations.

Phobias

Extreme or irrational fears or aversions to specific objects, situations, or activities that cause significant distress or impairment.

Negative Reinforcement

A behavioral concept where the removal of an undesirable or unpleasant stimulus following a behavior increases the likelihood of that behavior being repeated in the future.

Punishers

Stimuli that decrease the likelihood of a behavior being repeated, used in the context of behavioral psychology.