In the context of prestige pricing, the idea behind skimming pricing is to:
A) increase traffic by special sales on a limited number of products.
B) achieve long-term profitability through sheer volume of sales.
C) attract consumers toward newly launched products by offering them at rock-bottom prices.
D) entice price-insensitive consumers to buy high when a product first enters the market.

Question

Quizplus · Accepted Answer

Skimming pricing involves setting high initial prices to target consumers who are willing to pay more, often used for new or innovative products.

In the Context of Prestige Pricing, the Idea Behind Skimming