Price Skimming

Price skimming is a pricing stretegy in which a marker sets a relatively high price for a product or service at first, then lowers the price over time. In the case of the Iphone and apple this kind of pricing strategy was used to the extreme. AT&T was the only company that carried the phone so they were able to charge a rediculously high price for the item. There was no other place to purchase the item so if someone wanted the phone then they had to pay the high price. This really seems weird to me because it is almost forcing someone to pay more for something then they really should. When the Iphone first came out it was sold for $599 which is insane for a cell phone. Now they are sold for considerably less, yet there are still all of those people that had to pay the high price at first, Do you think it is the faul of the company for charging that high of a price or the fault of the people for paying that much for it?

Response to Social Media Article

When I was reading the article about social media I was thinking about how it would be for me. I do think that it would be kinda of hard for me to do especially at school. I think that at school it is used in almost everything we do from looking for assignments on blackboard to texting or e-mailing a fellow classmate on what time to meet to finish a group project. I think that social media it made extremely assessable to all of us and now that we are used to it it becomes difficult to just stop using it. I think that this was a very interesting assignment that this teacher tried and really shows us how addicted we are to these things. On the other hand when I am at home it would be much easier for me to go without. I like to hunt during the fall and snowmobile during the winters which are two things that you can't be on your cell phone while doing, yet when I go hunting I always bring my cell phone. This is for safety reasons mostly or to get a hold of someone if I need too. Do you think you could make it a day without social media?