Xerox pioneered the first portable fax machine.In 1980,the price was $12,700.Xerox used a(n)__________ pricing strategy to help recover its research and development costs.

Question

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Xerox used a skimming pricing strategy to help recover its research and development costs. This strategy involves setting a high price for a new and innovative product to maximize revenue and recover the initial investment in development costs. As demand for the product increases, the price may be lowered to attract more customers.

Xerox Pioneered the First Portable Fax Machine