A price skimming strategy is most often used for a new product when
A. competition in the market is abundant.
B. customers are unwilling to spend a large amount of money on the product.
C. the supply of the product is greater than its demand.
D. the product is perceived by the target market as having unique advantages.
Answer: D
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Indicate whether the statement is true or false
Conversion costs consist of
A) direct materials costs and direct labor costs. B) direct labor costs and overhead costs. C) direct materials costs and overhead costs. D) direct labor costs and indirect labor costs.
A fast-food chain wanted to add a new product to its breakfast menu. The company considered a pancake shaped like a muffin. The problem was determining how a customer would add syrup to the pancake while eating and driving
Fortunately, one of the company's suppliers developed a crystallized syrup that seeps through the pancake once it is heated. Explain the phase of new-product development that occurred during this process with the chain and its supplier? Support your rationale.
Complete the following table in preparation for a Monte Carlo simulation
Demand Probability Cumulative Probability Interval of Random Numbers 1 01-20 2 21-25 3 26-50 4 51-80 5 81-00