A company follows a skimming strategy as part of introducing a new product to:

Name: A company follows a skimming strategy as part of introducing a new product to:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Skimming strategy involves setting a high price for a new product initially to recover the costs of development and to capitalize on the price insensitivity of early buyers. As time passes and more competitors enter the market, the company can gradually lower the price to appeal to price-sensitive customers and increase sales volume.

A Company Follows a Skimming Strategy as Part of Introducing