1
Q
What is price-skimming?
A
An attempt to exploit those sections of the market relatively insensitive to price changes.
2
Q
What is penetration pricing?
A
Charging low prices initially with the intention of gaining rapid acceptance of the product.
3
Q
What is the product life cycle?
A
1) Introductory
2) Growth
3) Maturity
4) Decline
