Question

For a​ market-skimming pricing strategy to make​ sense, which condition must be present in the​ market?.

Answer 1

For a​ market-skimming pricing strategy to make​ sense, the condition that must be present in the​ market includes:

• the product`s quality and image must support its higher price and enough buyers must want the product at that price
• the costs of producing a smaller volume cannot be so high that they cancel the advantage of charging more
• the competitors should not be able to enter the market easily and undercut the high price.

What Is Price Skimming?

Basically, a price skimming refers ti a product pricing strategy by which a firm charges the highest initial price that customers will pay and then lowers it over time. The term "skimming strategy" gets its name from "skimming" successive layers.

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