Market-skimming pricing is suitable when a large mass market exists for the new product, and the demand for the product is highly elastic.

Name: Market-skimming pricing is suitable when a large mass market exists for the new product, and the demand for the product is highly elastic.
Brand: Quizplus
Rating: 4.7 (38 reviews)

Question

Quizplus · Accepted Answer

Market-skimming pricing is more suitable for products with inelastic demand and a smaller, more niche market, where consumers are willing to pay a higher price for perceived value or innovation.

Market-Skimming Pricing Is Suitable When a Large Mass Market Exists