The practice of initially charging a high price for a new type of product, in an effort to maximize profits before substitutes or imitation products become available. The use of market skimming pricing is usually followed by a dramatic drop in prices once imitation products are available, in order to remain competitive with other companies offering the imitation products.
Related information about market skimming pricing:
- What is market skimming pricing? - BusinessDictionary.com
Definition of market skimming pricing: An approach under which a producer sets a high price for a new high-end product (such as an expensive perfume) or a ...
- What is Market-Skimming Pricing
Market-skimming pricing is the practice of raising a price for a product and marketing it to the market willing to pay the higher price. Market-skimming pricing ...
- What is MARKET SKIMMING PRICING? - The Law Dictionary
Definition of MARKET SKIMMING PRICING: A producer's strategy of setting a high price for an exclusive, new high-end product. Some examples are a very ...
- What is market skimming pricing? - InvestorWords.com
Definition of market skimming pricing: The practice of initially charging a high ... The use of market skimming pricing is usually followed by a dramatic drop in ...
- market-skimming pricing noun - definition in Business English ...
market-skimming pricing noun - definition, audio pronunciation and more for market-skimming pricing noun: skimming: See more in Business English Dictionary ...
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Market-skimming pricing is a strategy with high initial prices to “skim” revenue layers from the market. Product quality and image must support the price; Buyers ...
- market skimming pricing - Sales and Marketing Glossary - Glossary
market skimming pricing, a pricing approach in which the producer sets a high introductory price to attract buyers with a strong desire for the product and the ...