Virtual Electronics utilizes a strategy to charge a very high introductory price for their automobile video theater.After identifying that their rival firms did not carry this new product,they chose this strategy to achieve maximum profits.Virtual Electronics has chosen a high-low pricing strategy.

Question

Quizplus · Accepted Answer

Virtual Electronics has chosen a price skimming strategy, not a high-low pricing strategy. Price skimming involves setting a high initial price to maximize profits from early adopters before lowering the price over time.

Virtual Electronics Utilizes a Strategy to Charge a Very High