Setting the Highest Initial Price That Customers Really Desiring the Product

question 73

Multiple Choice

Setting the highest initial price that customers really desiring the product are willing to pay when introducing a new or innovative product is referred to as a

• A)skimming strategy.
• B)penetration strategy.
• C)price-lining strategy.
• D)experience-curve pricing strategy.
• E)prestige pricing strategy.

---

Definitions:

Participating Style

A leadership approach that involves sharing decision-making with team members and encouraging their involvement in setting goals and methods.

Two-Way Communication

A method of communication that involves a reciprocal exchange of information, feedback, or messages between two or more parties.

Direction

Guidance or instruction on a course of action, often provided to achieve a specific goal or outcome.

Motivation

The internal drive or process that energizes, guides, and maintains behavior towards achieving a goal.