Firms can first use skimming pricing to attract innovators and then switch to penetration pricing to attract the mass market.

Name: Firms can first use skimming pricing to attract innovators and then switch to penetration pricing to attract the mass market.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Skimming pricing involves setting high prices initially to target early adopters who value the product highly, then lowering prices over time to attract a broader customer base, which aligns with the strategy described.

Firms Can First Use Skimming Pricing to Attract Innovators and Then