The First Apple IPhone Was Introduced in 2007 at an Initial

question 38

Multiple Choice

The first Apple iPhone was introduced in 2007 at an initial price of $600. People waited in line overnight so they could be one of the first to own this unique smartphone. Which pricing strategy did Apple use to help recoup its costs for developing the smartphone?

• A) penetration pricing
• B) experience-curve pricing
• C) customary pricing
• D) skimming pricing
• E) target pricing

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Definitions:

Commodified

The process by which products or services are turned into commodities available for purchase in the market, affecting cultural artifacts and human labor.

NFL Draft

An annual event in which the National Football League (NFL) teams select eligible college football players to add to their rosters, serving as a primary source for teams to replenish their rosters.

Labour Force

The total number of people available for work, including both the employed and the unemployed.

Gender Stratification

The unequal distribution of wealth, power, and privilege across genders within a society.