Posh Collections introduced a new watch to appeal to upscale consumers. The company will most likely use a(n)________ strategy.
A) market-skimming pricing
B) market-penetration pricing
C) optional-product pricing
D) by-product pricing
E) allowance pricing

Question

Quizplus · Accepted Answer

Market-skimming pricing would be the best strategy for Posh Collections as they are introducing a new product to appeal to upscale consumers. This pricing strategy involves setting a high price initially to attract customers who are willing to pay a premium for a new, innovative product. This strategy is commonly used by companies in the luxury goods industry.

Posh Collections Introduced a New Watch to Appeal to Upscale