Price skimming focuses on selling products to __________ and __________ in the consumer adoption process model.
A) innovators; early adopters
B) early adopters; early majority
C) early majority; late majority
D) late majority; laggards
E) laggards; innovators

Question

Quizplus · Accepted Answer

Price skimming is a pricing strategy where businesses set high introductory prices for new and innovative products to capture the attention of early adopters and innovators in the consumer adoption process model. These customers are generally willing to pay a premium price for new and innovative products, which can help businesses recoup their initial investment and generate profits in the early stages of a product's life cycle. As the product becomes more widely adopted, businesses may gradually lower the price to attract the early majority and late majority in the consumer adoption process model.

Price Skimming Focuses on Selling Products to __________ and __________

Price Skimming Focuses on Selling Products to and