Setting a price relatively high compared to similar goods and then gradually lowering it is a pricing strategy called _____ pricing.
A)penetration
B)skimming
C)cost-based
D)psychological

Question

Quizplus · Accepted Answer

Skimming pricing is the strategy where a high initial price is set for a product, and then it is gradually lowered over time. This approach is often used to recoup the development costs quickly and to target early adopters who are willing to pay a premium before adjusting the price to attract a broader market.

Setting a Price Relatively High Compared to Similar Goods and Then