While the Prices for Most Wine Brands Were Falling, and Restaurants

While the prices for most wine brands were falling, and restaurants were canceling wine orders for bottles that cost over $25 apiece, Nickel & Nickel launched a new wine brand selling at $125 per bottle. The goal of this high price was to denote quality and to appeal to people who perceive themselves as wine connoisseurs. Nickel & Nickel used a _____ strategy for its new wine.

A) cost-plus
B) marketing-skimming
C) market-absorption
D) marginal-cost
E) market-penetration

Correct Answer:

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