Executives at Apple were aware that the demand for their latest phone,the iPhone 4,would be high.As a result,the company set a high price for the product before it was even introduced to the market.Apple engaged in ________.

Question

Quizplus · Accepted Answer

Forward pricing is the strategy of setting a price for a product before it is available in the market, which is exactly what Apple did with the iPhone 4. They predicted that the demand for their new product would be high and set a price accordingly.

Executives at Apple Were Aware That the Demand for Their