3M is a master of _________ strategy.According to a 3M manager, "we hit fast, price high, and get the heck out when the me-too-products pour in."

Question

Quizplus · Accepted Answer

The strategy described by the 3M manager is consistent with skimming pricing, which involves setting a high price for a new and unique product, then gradually lowering the price as competitors enter the market with similar products. This approach allows 3M to maximize profits in the short-term before facing competition, and it is a common strategy used for innovative and differentiated products.

3M Is a Master of _________ Strategy