Question: What strategy involves setting a high initial price for a product, targeting early adopters, and then gradually lowering the price? Cost - plus Pricing Penetration

What strategy involves setting a high initial price for a product, targeting early adopters, and then gradually lowering the price?
Cost-plus Pricing
Penetration Pricing
Freemium
Skimming

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

1.Which of the following is NOT a primary objective of advertising? Building brand awareness Increasing sales Enhancing customer loyalty Optimizing supply chain management 2.Which promotional tool...

Q:

Answer these multiple choice question: (much explanation not needed, just need topic headings and multiple choice answers): 1. This pricing strategy used by companies when they know that consumers...

Q:

What is the primary goal of a business? a) Maximize profit b) Maximize market share c) Minimize expenses d) Provide employment opportunities Which of the following is not a factor of production in...

Q:

5. Which marketing strategy involves setting a high initial price for a new product and then gradually reducing it over time? a) Penetration pricing b) Skimming pricing c) Cost-plus pricing d)...

Q:

"Pricing your products and services can be tough. Set prices too high, and you miss out on valuable sales. Set them too low, and you miss out on valuable revenue."(Decker,2023). In order to find the...

Q:

Go to www.nucor.com. At the top of the frame you will see the heading Our Story. Then click on Chapter 1 Corporate Overview and read the information under this tab and then click on Chapter 2 History...

Q:

Price is the ONLY revenue generator in the marketing mix. Three common pricing strategies that are utilized in the introductory stage of the product life cycle are described below. A price skimming...

Q:

Question : There are four different approaches to setting an approximate price level for a product. List the four approaches and then pick the one likely selected for Neuro Sonic when it launched....

Q:

What pricing strategy involves setting the price at a high initial level and gradually lowering it over time? Select one: a . Market penetration pricing b . Cost - phius pricing c . Competitue...

Q:

True/False Questions 1) All advertising is part of marketing, but not all marketing efforts are advertising. 2) Marketing is managing profitable customer relationships. 3) The twofold goal of...

Q:

Cuckoos lay their eggs in the nests of other (host) birds. The eggs are then adopted and hatched by the host birds. But the potential host birds lay eggs of different sizes. Does the cuckoo change...

Q:

A typical resident of a fictitious country consumes a basket of goods consisting of beer, pizza, and smartphones. The base year's basket contains 100 bottles of beer, 200 pizzas, and 2 smartphones....

Q:

Which of the following markets is least likely to be efficient? corporate bond market stock market real estate market treasury bond market

Q:

In 2022, Oscar and Andy pooled their resources to form Feline\&Canine Partnership. They will both work actively in the business and they have agreed to share profits and losses 50-50. To form this...