Price Skimming Is Finding Out What Customers Are Willing to Pay

question 31

True/False

Price skimming is finding out what customers are willing to pay for the product and pricing it accordingly. ​

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Definitions:

Unpleasant Stimuli

Refers to any external factors or conditions that are disagreeable or discomforting to an individual.

Desensitization

A process in which an individual is gradually exposed to a feared object or context, diminishing their emotional response to it.

Operant Conditioning

The process by which behavior is shaped, either strengthened or weakened, by the use of incentives or deterrents.

Reciprocal Inhibition

A concept in psychology where the activation of one emotion or response is linked to the inhibition of another.