Examlex

Solved

Charging a Relatively High Price for New and Innovative Products

question 90

Multiple Choice

Charging a relatively high price for new and innovative products to those consumers most willing and able to pay the high price is called price


Definitions:

Revenue

The income a business receives from selling a product.

Wholesale Price

The price that manufacturers charge the retailer.

Trademark

A recognizable sign, design, or expression which distinguishes products or services of a particular trader from those of others.

Invention

The creation of a new device, method, or process, resulting from study and experimentation.

Related Questions