When Introducing a New or Innovative Product, Setting the Highest

question 111

Multiple Choice

When introducing a new or innovative product, setting the highest initial price that customers who really desire the product are willing to pay 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:

Phone Tone

The sound or quality of a person's voice as perceived over the telephone, which can convey emotions or attitudes.

Disbelief

A mental state in which a person refuses to accept or is unable to believe in something as true.

Answering Machine

A device connected to a telephone to record messages when no one is available to answer the phone.

Office Closed

Indicates that a business or professional office is not open for operations or public access.