A Price Skimming Strategy Is Most Often Used for a New

question 14

Multiple Choice

A price skimming strategy is most often used for a new product when:

• A)competition in the market is abundant.
• B)customers are unwilling to spend a large amount of money on the product.
• C)its supply is greater than its demand.
• D)the product is perceived as having unique advantages.

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Definitions:

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with the unconditioned stimulus, eventually comes to trigger a conditioned response.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired; a response that is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.

Spontaneous Recovery

A phenomenon in learning and conditioning where a previously extinguished response re-emerges after a period of no exposure to the conditioned stimulus.