Novice Telecom Is a Manufacturer of Cell Phones

question 92

Multiple Choice

Novice Telecom is a manufacturer of cell phones.The company is planning to launch a new model of smart phone and the pre-launch marketing has created much hype in the market.In order to cash in on the hype,the company charges a high price during the initial stages of the product's launch.Identify the pricing strategy this company is using.

• A) optimal pricing
• B) skim pricing
• C) penetration pricing
• D) auction pricing
• E) freemium pricing

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Definitions:

Compete

To take part in a contest or rivalry, striving to win or achieve something by surpassing others.

Conscious

Pertaining to the awareness of one's own existence, sensations, thoughts, surroundings, and the ability to perceive external stimuli.

Objective Goals

Specific, measurable, achievable, relevant, and time-bound goals that an individual or organization aims to accomplish.

Fictional Finalism

A concept from Adlerian psychology, suggesting that individuals are motivated more by their expectations of the future than by past experiences.