General Studies · Pricing Strategies
Consider the following statements regarding the 'Price Skimming' strategy: Statement 1: The strategy involves setting a high introductory price to maximize revenue from early adopters who are willing to pay the most for novelty. Statement 2: The initial high price is permanently maintained throughout the product's life cycle to consistently restrict market access to price-sensitive buyers.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both statements are false.
- 2Statement 1 is false, but Statement 2 is true.
- 3Statement 1 is true, but Statement 2 is false.✓
- 4Both statements are true.
Correct answer
Statement 1 is true, but Statement 2 is false.
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