____ is a new product pricing strategy which results in a high initial product price.This price is reduced over time as demand at the higher price is satisfied.
A) Prestige pricing
B) Price lining
C) Skimming
D) Incremental pricing
E) None of the above

Question

Quizplus · Accepted Answer

Skimming is a pricing strategy where the product is initially priced high to capture early adopters and those willing to pay a premium price. As demand at the higher price is satisfied, the price is gradually reduced to attract more price-sensitive customers. This strategy is often used for innovative or technologically advanced products where there is little competition and a high level of consumer demand.

____ Is a New Product Pricing Strategy Which Results in a High