ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The price skimming consists of setting high prices and reducing them over time to maximize the long-term profit.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Price Skimming-Key takeaways Price skimming is a pricing strategy used by companies to charge a high initial price for a new product and then gradually lower the price to attract more price-sensitive customers and increase overall sales volume.
Detailed explanation-2: -Price Skimming Definition. Price skimming refers to a pricing strategy where the producers sell new, innovative, or improvised products or services at a high price for a short period targeting high-end customers and subsequently, reduces the price to tap remaining market segments.
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