A company follows a skimming strategy as part of introducing a new product to

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Business

Mercedes Skinner

2 July, 18:26

A company follows a skimming strategy as part of introducing a new product to

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Ashtyn Ayers · Answer 1

Give the impression of value to the product before lowering it. The price skimming strategy works by introducing the product at a very high initial price to give the consumers the impression of high value. The sellers will then lower it down slowly over time to give the consumers the impression that they are lowering the price of a very high value product and therefore giving them a good bargain.