answersLogoWhite

0


Best Answer

Price skimming is setting a high price for an item and then lowering the price over time. This is used on products that are in short supply with high demand.

User Avatar

Wiki User

11y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is a price skimming strategy?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is a price-skimming strategy?

With a price-skimming strategy, the price is initially set high, allowing firms to generate maximum profits from customers willing to pay the high price


What is a skimming strategy?

Price skimming is setting a high price for an item and then lowering the price over time. This is used on products that are in short supply with high demand.


What is price-skimming strategy?

price-skimming strategy uses different pricing phases over time. Initially, prices are set high to maximize profits and then gradually reduced to generate additional


How does a price skimming strategy work?

A price-skimming strategy uses different pricing phases over time to generate profits. In the first phase, a company launches the product and targets customers who are more willing to pay the item's high retail price.


How does a price-skimming strategy work?

A price-skimming strategy uses different pricing phases over time to generate profits. In the first phase, a company launches the product and targets customers who are more willing to pay the item's high retail price.


What is market skimming prices?

Price skimming is a strategy by which the initial price set is the highest initial price any customers will pay. As those customers pay those prices, the price lowers to bring in more customers.


What is Market-Skimming Pricing?

Market-skimming pricing is the practice of raising a price for a product and marketing it to the market willing to pay the higher price. Market-skimming pricing brings in less sales but ultimately more revenue per sale. Market-skimming requires market research and strategy for a higher income demographic.


What is price skimming strategy?

Try searching on the Internet on Google you will get aloy of results. Try searching on the Internet on Google you will get alot of results.


What is price skimming?

Price skimming is pricing policy by the producer to sell his product with initially for high price and then at decreasing rate over the time.


Which reading strategy has you quickly look over a piece of reading to find a specific piece of information?

Scanning is the reading strategy where you quickly look over a piece of reading to find specific information. It involves moving your eyes over the text to identify keywords, numbers, or names that match what you are looking for.


Which reading strategy has you quickly read over the information to find the general idea?

skimming


Difference between skimming pricing and penetration pricing?

skimming pricing is for new or innovative product, the price at the begining is high and customers are not price sensitive. penetration pricing set a low price at the begining to gain a mass market, and the price will rise later. The customers are price sensitive.