Which of the following terms describes a pricing strategy in which a new product's initial price is set high and then eventually lowered to appeal to a broader range of customers?
A) Penetration pricing.
B) Price skimming.
C) Customer pricing.
D) Designed pricing.
E) Market-share pricing.

Question

Quizplus · Accepted Answer

Price skimming is a strategy where a product is initially priced high and then gradually lowered over time. This approach is often used to maximize profits from early adopters before targeting a broader customer base with lower prices.

Which of the Following Terms Describes a Pricing Strategy in Which