Hallmark was the official supplier of flowers at the last Winter Olympics.It was the first time that it has participated in the Olympics.Hallmark presented each Olympic winner with a special bouquet of roses designed to resemble the Olympic torch.Consumers can buy a smaller version of this same bouquet at the Hallmark website for $74.95.The Olympic bouquet that consumers can buy contains two dozen yellow roses,yet you can buy two dozen yellow roses for less than $35 at most supermarkets.If Hallmark is treating the Olympic bouquet as an innovative product,then it is using which demand-oriented approach to pricing?

Question

Quizplus · Accepted Answer

Hallmark is using skimming pricing by charging a significantly higher price for their Olympic bouquet compared to the market price for two dozen yellow roses. They are leveraging the unique design and association with the Olympics to justify the premium price.

Hallmark Was the Official Supplier of Flowers at the Last