Which of the following is defined as an approach to pricing in which a seller charges a relatively high price on a new product initially in order to recover costs and make profits rapidly and then lowers the price at a later date to make sales to more price-sensitive buyers?
A)Penetration pricing policy
B)Sealed-bid pricing
C)Rate-of-return pricing
D)Skimming pricing policy

Question

Quizplus · Accepted Answer

Skimming pricing policy is defined as an approach to pricing in which a seller charges a relatively high price on a new product initially in order to recover costs and make profits rapidly and then lowers the price at a later date to make sales to more price-sensitive buyers.

Which of the Following Is Defined as an Approach to Pricing