For a Price Skimming Strategy to Work,the Product or Service

question 12

Multiple Choice

For a price skimming strategy to work,the product or service must

• A) be bundled with products or services already available on the market.
• B) be similar to what consumers are already comfortable with.
• C) have wide market appeal.
• D) have low production costs.
• E) offer consumers some new benefit currently unavailable in alternative products.

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Definitions:

Significance

The quality of being worthy of attention; importance, or the degree to which something is related or useful to what is happening or being talked about.

Fear Of Failure

A psychological concern involving the apprehension or anxiety about failing to achieve a goal or meet expectations.

Design Thinking

A creative problem-solving approach that focuses on understanding user needs and challenges to develop innovative solutions.

Organizations

Groups or institutions with a common interest or activity, structured systematically to achieve specific goals.