The Policy of Using a Skimming Pricing Approach When a Product

question 72

Multiple Choice

The policy of using a skimming pricing approach when a product is introduced, followed by penetration pricing as the product matures, is referred to by Joel Dean as:

• A)product differentiation.
• B)market segmentation.
• C)time segmentation.
• D)price administration.
• E)life cycle pricing.

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Definitions:

Sociology

The study of social behavior, society, patterns of social relationships, social interaction, and culture.

Psychology

the scientific study of the human mind and its functions, especially those affecting behavior in a given context.

Threats

Potential sources of harm or adverse effects to something or someone.

Tension

The state of being stretched tight or mental or emotional strain.