Why do marketers of new and innovative products often start out with a price skimming strategy rather than a penetration strategy?
What will be an ideal response?
In many markets, and particularly for new and innovative products or services, innovators and early adopters are willing to pay a higher price to obtain the new product or service. In this case firms would employ a price skimming strategy that sets the initial price high as opposed to a market penetration strategy that sets the initial price low. Firms employ skimming strategies to test consumers' price sensitivity. A firm that prices too high can always lower the price, but if the price is initially set too low, it is almost impossible to raise it without significant consumer resistance.
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Compare and contrast the typical traditional organization chart for an organization against the modern customer-oriented organization chart
What will be an ideal response?
Marsh, Inc. provides the following information:
Calculate the sales volume variance.
A) 30,500 F
B) 30,500 U
C) $76,000 U
D) $106,500 F
Accumulated Depreciation:
A) increases with a debit. B) decreases with a credit. C) increases with a credit. D) is an adjunct account.
Which of the following is sometimes argued to be the beginning of today's strategic human resource management and high performance workplaces?
A. Industrial unionism. B. Syndicalism. C. Welfare capitalism. D. General unionism.