One Reason Marketers of New,innovative Products Often Start Out with a Price

question 96

Multiple Choice

One reason marketers of new,innovative products often start out with a price skimming strategy rather than a market penetration strategy is that

• A) few consumers understand a penetration strategy.
• B) a price skimming strategy lowers the value for consumers.
• C) a price skimming strategy targets all product adopters equally.
• D) it is easier to lower prices than to raise them.
• E) price skimming is legal while price penetration is not.

---

Definitions:

Public Support

Refers to the backing or endorsement by the general population towards a specific cause, initiative, or entity.

Tourism Industry

The sector of the economy that deals with services related to travel and accommodation for tourists, including hotels, restaurants, and attractions.

Attracting Visitors

Attracting visitors refers to strategies and practices aimed at drawing individuals to a particular place, event, or website, often used in tourism, retail, and digital marketing to increase engagement and reach.

Brand Recognition

The extent to which a consumer can correctly identify a particular product or service just by viewing its logo, tagline, packaging, or advertising material.