Price skimming strategy and market penetration strategy

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Reference no: EM131269513

1. Marketers of innovative products often start out with a price skimming strategy rather than a market penetration strategy because

A. it's easier to lower prices than to raise them.

B. price skimming targets all product adopters equally.

C. price skimming lowers the value for consumers.

D. few consumers comprehend the penetration strategy.

2. If a one-percent decrease in price results in more than a one-percent increase in quantity demand, demand is

A. derived demand inelastic.

B. cross-price elastic

C. price inelastic.

D. price elastic.

Reference no: EM131269513

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