The market skimming pricing strategy is a part of a deliberate attempt to reach a market segment that is willing to pay premium price for a particular brand or for a specialized or unique product.

Question

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The statement is correct. Market skimming pricing strategy involves setting a high price initially to maximize profits from customers who are willing to pay a premium price for a new or unique product. This approach is generally used for products that have a limited market size or are in high demand but have limited availability. As demand in the market becomes saturated, the price is lowered to reach a wider range of customers.

The Market Skimming Pricing Strategy Is a Part of a Deliberate