A shortage of blood for transfusions for injured animals has resulted in the introduction of a synthesized product called Oxyglobin, which can be used effectively as a blood replacement. The manufacturer of the product has put a high price on the product in order to recoup its research and development costs. The manufacturer of Oxyglobin is using a _____ policy.
The price skimming technique is often considered as a "market-plus" solution for marketing, it signifies a high cost compared to the costs of competitive products.
It performs best when the industry wants to purchase the brand even when the prices are higher than average.
It is now used as a plasma replacement, which puts the drug at a cheap price and also saves the production costs, that's why this method is implemented.
