When Texas Instruments (TI)introduced its pocket calculator it was a tremendous product innovation, and TI set the mail order price at $495. What is the name of the pricing strategy Texas Instruments used?

Question

Quizplus · Accepted Answer

The price of $495 for a pocket calculator was a premium price and was set intentionally high to capture the early adopters of the product. This is known as skimming pricing strategy where a business introduces a new product at a relatively high price, targeting customers who are willing to pay a premium for the innovation.

When Texas Instruments (TI)introduced Its Pocket Calculator It Was a Tremendous