If a Producer's Marketing Manager Doesn't Know the Shape of the Demand

question 45

Multiple Choice

If a producer's marketing manager doesn't know the shape of the demand curve for a new product,the initial price level policy should probably be a(n) ________ policy.

• A)flexible-pricing
• B)target-return pricing
• C)introductory pricing
• D)penetration price
• E)skimming price

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Definitions:

Offer Termination

the revocation, rejection, or expiration of a proposal before it is accepted, which effectively ends the offer and prevents it from becoming a binding contract.

Uniform Commercial Code

A standardized set of laws and regulations that govern commercial transactions in the United States.

United Nations Convention

An international treaty or agreement formulated under the auspices of the United Nations, aimed at regulating issues of global concern.

Case Law

The collection of legal interpretations made by judges. They are considered to be law unless otherwise revoked by a statutory law. Also known as common law.