Skimming Pricing Refers to

question 210

Multiple Choice

Skimming pricing refers to

• A)setting the lowest initial price possible when introducing a new or innovative product in order to "skim" sales from competitors.
• B)setting the highest initial price that customers really desiring the product are willing to pay when introducing a new or innovative product.
• C)setting a low initial price on a new product to appeal immediately to the mass market.
• D)the practice of replacing promotional allowances with higher manufacturer list prices.
• E)setting a high price so that quality- or status-conscious consumers will be attracted to the product and buy it.

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Definitions:

Stage 1

Represents the initial phase in a process or series of developments.

Bertrand Russell

A British philosopher, logician, mathematician, historian, writer, social critic, and Nobel laureate, known for his work in mathematical logic and analytic philosophy.

Passions

Intense, driving feelings or convictions that motivate individuals to pursue particular activities or goals with enthusiasm and zeal.

Suffering

The experience of undergoing pain, distress, or hardship, which can be physical, emotional, or psychological in nature.