masterdee7251 masterdee7251

16-12-2019
Social Studies

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Lush Cosmetics, a firm based in the U.S., recently started exporting cosmetics to India. Lush introduced a new range of mineral-based makeup for the first time in the Indian market. It was also priced much higher than the other brands in the market. This is an example of _____.

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Kristiania Kristiania

17-12-2019

Answer:

price skimming

Explanation:

Price skimming -

It is a method , by which the organisation alters the initial price , which is gets lower over the period of time , is referred to as price skimming .

Initially as the demand of the product is more , the price is kept higher , but as time passes , the demand reduces and therefore the price of the product also reduces .

Hence , the example given in the question is about price skimming .

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