Pricing new products is usually a choice between skimming and penetration.

Name: Pricing new products is usually a choice between skimming and penetration.
Brand: Quizplus
Rating: 4.8 (43 reviews)

Question

Quizplus · Accepted Answer

Skimming and penetration are two common pricing strategies for new products. Skimming involves pricing the product high initially and gradually reducing the price over time, while penetration involves setting a low price initially to gain market share, with the intention of raising the price later. Therefore, the statement is true.

Pricing New Products Is Usually a Choice Between Skimming and Penetration