What is skimming pricing?

What is skimming pricing?
William Apr-28-2023 09:00:34
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1 Answer

Skimming pricing is a pricing strategy that involves setting a very high initial price for a product or service, then systematically lowering it over time as sales slow or competitors enter the market. The goal of skimming pricing is to capture the highest price possible from the most willing consumers, while still maintaining some level of market demand. Skimming pricing can be used to increase profits during the early stages of the product life cycle, while also allowing the company to experiment with different pricing strategies before settling on a more permanent price.
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answered 22 Aug 2023

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