Setting the Highest Initial Price That Customers Really Desiring the Product

question 188

Multiple Choice

Setting the highest initial price that customers really desiring the product are willing to pay when introducing a new or innovative product is referred to as a(n)

• A)skimming strategy.
• B)penetration strategy.
• C)price-lining strategy.
• D)experience-curve pricing strategy.
• E)prestige pricing strategy.

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Definitions:

Organization

An arranged group of people and resources structured to achieve specific goals or carry out a range of activities.

Organizational Behaviour

The study of how individuals and groups act within organizations, and how these entities interact with their environments.

Strategic Priority

Refers to the focus areas or actions that an organization identifies as most important to achieve its strategic goals.

Job Design

The process of arranging work tasks for employees, aiming to optimize employee performance and job satisfaction.