The first Apple iPhone was introduced in 2007 at an initial price of $600.People waited in line overnight so they could be one of the first to own this unique smartphone.Which pricing strategy did Apple use to help recoup its research and development costs for the smartphone?
A)penetration pricing
B)experience curve pricing
C)customary pricing
D)skimming pricing
E)target pricing

Question

Quizplus · Accepted Answer

Apple used skimming pricing by setting a high initial price for the iPhone to generate revenue and recoup their research and development costs quickly. This strategy targets early adopters who are willing to pay a premium price for new and innovative technology.

The First Apple IPhone Was Introduced in 2007 at an Initial