Setting the Highest Initial Price,that Customers Who Really Desire the Product

question 298

Multiple Choice

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

Juan Garrido

A black conquistador who accompanied Spanish explorers in the early 16th century, noted for being among the first Africans to arrive in the Americas.

Aztec Empire

A Mesoamerican empire based in what is now Mexico, known for its complex social structure, monumental architecture, and advanced agricultural practices before the Spanish conquest in the 16th century.

Gold Coast

A term historically used to describe the coastal region of West Africa that is now Ghana, known for its wealth in gold and as a center of the gold trade.

£ Sterling

The £ Sterling, or Pound Sterling, is the currency of the United Kingdom, symbolized by £, and one of the oldest currencies in continuous use.