Asked by Libby Burchett on Jul 13, 2024
Verified
_____ is a pricing strategy where a company sets a high price for a product and sells to the segment that is willing to pay a premium.
A) Dumping
B) Skimming
C) Outsourcing
D) Insourcing
Skimming
A pricing strategy where a company sets a high price for a product and sells to the segment that is willing to pay a premium.
Pricing Strategy
The approach businesses use to determine the best price for their products or services in order to maximize profits and market share.
High Price
A situation where goods or services are offered at a cost that is significantly above the average or expected price range.
- Assess the execution and results of pricing plans like skimming, penetration, and cost-plus within market contexts.
Verified Answer
LM
Lissette MillaJul 17, 2024
Final Answer :
B
Explanation :
Skimming is a pricing strategy where a company sets a high initial price for a product to target consumers who are willing to pay a premium before gradually lowering the price to attract other market segments.
Learning Objectives
- Assess the execution and results of pricing plans like skimming, penetration, and cost-plus within market contexts.