When Microwave Ovens Were in the Introduction Stage of Their

question 355

Multiple Choice

When microwave ovens were in the introduction stage of their product life cycle, some consumers were willing to pay exorbitant prices for these innovative ovens. Taking advantage of this strong consumer desire, marketers set the price for microwave ovens at the highest initial price possible. Marketers of microwave ovens used a __________ pricing strategy.

• A)skimming
• B)penetration
• C)prestige
• D)price lining
• E)bundle

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Definitions:

Voters

Individuals who have the right and responsibility to vote in elections to choose leaders and shape policies.

Social Policy

A governmental policy aimed at addressing social issues and ensuring the welfare and well-being of citizens through various means, such as healthcare, education, and income support.

Presidential

Pertaining to the president of a country or an organization, often relating to the duties, powers, or period of office of such a position.

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Relating to a formal legislative body, often referred to in the context of the United States Congress, which is responsible for making national laws.