Advantages of a price skimming are;

Name: Advantages of a price skimming are;
Brand: Quizplus
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Quizplus · Accepted Answer

Price skimming involves setting a high price before other competitors come into the market and then gradually lowering the price over time. This strategy allows a company to maximize profits on early adopters before dropping prices to attract more price-sensitive customers. It's easier to lower prices than to raise them, and this approach helps gauge customer price sensitivity.

Advantages of a Price Skimming Are;