The first Blu-ray player released by Samsung in 2006 cost $1000. Why was Samsung, the only producer of Blu-ray players at the time, able to set the price high?
A) the economy was thriving and consumers could afford to spend $1000
B) the Blu-ray was in the beginning stages of the product life cycle
C) there was a lot of competition within the industry and Samsung had to price the Blu-ray accordingly
D) the economy was struggling and $1000 was a low price

Question

Quizplus · Accepted Answer

Since Samsung was the only producer of Blu-ray players at the time, they were able to set the price high because there was no competition in the market. Additionally, the Blu-ray technology was in its early stages of the product life cycle, meaning that it was a new and innovative product with few alternatives, allowing Samsung to charge a premium price.

The First Blu-Ray Player Released by Samsung in 2006 Cost