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Crafting Supply Store has just been selected as an exclusive retailer for a new type of sewing machine that provides highly precise stitching and elaborate
Crafting Supply Store has just been selected as an exclusive retailer for a new type of sewing machine that provides highly precise stitching and elaborate designs. The store is trying to figure out the best price to sell this machine and wants to set the price to reflect a price skimming strategy. Which one of the following best describes how Crafting Supply Store should price this new sewing machine? A. The price should be set low enough to sell as many of these new sewing machines as possible. B. The price of the sewing machine should include all the supplies that a customer needs to get started. C. The price should be raised on the weekends, when many customers come to the store and buy the sewing machines, and reduced on weekdays, when demand slows. D. The price should initially be set high, as the new sewing machine is unique. This would allow Crafting Supply Store to break even sooner
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