A skimming price strategy involves setting a high initial price for a product,to more quickly recoup the investment related to its development and marketing.

Question

Quizplus · Accepted Answer

A skimming price strategy indeed involves setting a high initial price for a new product to maximize profits from the segments of the market willing to pay a premium price, allowing the company to recover the costs associated with its development and marketing more quickly.

A Skimming Price Strategy Involves Setting a High Initial Price