Price Skimming Is When

question 43

Multiple Choice

Price skimming is when:

• A) the initial product price is set low and is kept constant.
• B) the initial product price is set high giving high short-term profits; then the price is slowly lowered.
• C) the initial high product price is set high and raised.
• D) the initial product price is set low and raised.

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Definitions:

Sperling's Study

A series of experiments by George Sperling that investigated the capacity and duration of the sensory memory.

Sensory Memory

The shortest-term element of memory, which stores impressions of sensory information after the original stimuli have ended, lasting for a very brief period.

Iconic Memory

A type of visual sensory memory that holds an exact copy of what is seen for a very brief period of time, usually under a second.

Partial Report

A method used in memory research where subjects are asked to recall only a portion of the information presented to them, demonstrating the capacity of sensory memory.