When new products are first introduced to the market, they are seen to be superior to other offerings on the market at the time; due to their perceived innovation or quality advantage. For example solar panels were initially very expensive to install (in the tens of thousands of dollars) . Today, you can install a system on your home for a fraction of the price. This could best be described as an example of:
A) penetration pricing.
B) price skimming.
C) prestige pricing.
D) differential pricing.
E) odd-even pricing.
Correct Answer:
Verified
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