Jaggd Inc. ,an electronic goods manufacturing company,was planning to launch its latest smartphone in the market.Within the first few days of launching the phone,Jaggd wanted to earn as much revenue as the cost incurred in manufacturing the phone.So,it priced the phoneabout as high as the market would allow.In this case,Jaggd entered the market with a _____ approach to pricing the smartphone.

Question

Jaggd Inc. ,an electronic goods manufacturing company,was planning to launch its latest smartphone in the market.Within the first few days of launching the phone,Jaggd wanted to earn as much revenue as the cost incurred in manufacturing the phone.So,it priced the phoneabout as high as the market would allow.In this case,Jaggd entered the market with a _____ approach to pricing the smartphone.​

Quizplus · Accepted Answer

Jaggd Inc. wanted to earn as much revenue as the cost incurred in manufacturing the phone within the first few days of launching the phone. This pricing approach is known as profit maximization, where the company sets the highest possible price for a product to earn a profit.

Jaggd Inc ,An Electronic Goods Manufacturing Company,was Planning to Launch Its