Webster Industries is one of the first producers of a unique consumer product. The company has chosen a low-price strategy, hoping this will enable them to quickly attract many customers while discouraging potential competitors from entering the market. Webster's approach to pricing is a classic example of the skimming strategy.

Question

Quizplus · Accepted Answer

The statement is incorrect. Webster's approach to pricing is not a classic example of the skimming strategy. Skimming strategy involves charging a high price initially for a unique product and gradually lowering it over time. Webster's approach is a low-price strategy, which is more aligned with a penetration pricing strategy.

Webster Industries Is One of the First Producers of a Unique