Strategy of Pricing the New Product at a Relatively High

question 103

Multiple Choice

Strategy of pricing the new product at a relatively high level and then gradually reducing it over time is known as:

• A) Product skimming
• B) Consumer skimming
• C) Floating Market concept
• D) Market skimming

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Definitions:

Adoptive Parents

The individuals who legally adopt and raise a child not biologically their own.

Big Five

A theory in psychology that identifies five main personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism, used to describe human personality.

Correlated

When two or more variables have a mutual relationship or connection, where changes in one variable reflect changes in another.

Extraverted

A personality trait characterized by an orientation of one's interests and energies toward the outer world of people and social activities, as opposed to the inner world of thoughts and feelings.