In the _____, prices are set to achieve a high profit on each unit by selling to supply managers who are willing to pay a higher price because of a lack of supply management sophistication or who are willing to pay for products or services of perceived higher value.

Question

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The market skimming model involves setting high prices to achieve maximum profit by selling to supply managers who are willing to pay a higher price due to a lack of supply management sophistication or who perceive the product or service as having a higher value. This is commonly used for innovative or unique products with limited competition.

In the _____, Prices Are Set to Achieve a High