Which of the Following Is Not Considered to Be an Element

question 125

Multiple Choice

Which of the following is not considered to be an element of a waiting line system?

• A) the customer population source
• B) the service system
• C) the arrival and service patterns
• D) the average amount of time a customer spends in the system
• E) the priorities used for controlling the line

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Definitions:

Skimming Pricing

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

Highest Initial Price

A pricing strategy where a new product is introduced to the market at a high price before possibly lowering it later based on demand and competition.

Innovative Product

A new or significantly improved product that introduces a novel feature or fulfills a specific need in a new way.

Skimming Pricing

A pricing strategy where a high price is set for a new product to maximize profits from segments willing to pay more, before prices are lowered over time.