Examlex
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Price Level
Denotes the average of current prices across the entire spectrum of goods and services produced in the economy.
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.
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