when microwave ovens were in the introduction stage of their product life cycle, some consumers were willing to pay exorbitant prices for these innovative ovens. taking advantage of this strong consumer desire, marketers set the price for microwave ovens at the highest initial price possible. marketers of microwave ovens used a pricing strategy. group of answer choices e. bundle d. price lining a. skimming b. penetration c. prestige

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06-12-2022
Business

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when microwave ovens were in the introduction stage of their product life cycle, some consumers were willing to pay exorbitant prices for these innovative ovens. taking advantage of this strong consumer desire, marketers set the price for microwave ovens at the highest initial price possible. marketers of microwave ovens used a pricing strategy. group of answer choices e. bundle d. price lining a. skimming b. penetration c. prestige

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theerudite theerudite · Answer 1 · 2022-12-15T14:42:54-05:00

When microwave ovens were in the introduction stage of their product life cycle, some consumers were willing to pay exorbitant prices for these innovative ovens. Taking advantage of this strong consumer desire, marketers set the price for microwave ovens at the highest initial price, and customers with a very strong desire for the product were willing to pay. Marketers of microwave ovens used a a. skimming pricing strategy.

What does a skimming pricing strategy consist of?

Skimming, also known as skim pricing, is a strategy used in new product launches where high prices are placed on them as a way to improve brand perception. Subsequently, the price is lowered as competitors enter the market or the product enters the phase of maturity and decline.

This strategy is used in the technology and innovation sectors because consumers are more interested in investing in the latest technology products.

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What does a skimming pricing strategy consist of?

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