What successful strategies are/should be used to market the apple watch at this stage of its plc?5/19/2023 An example for a company using this new product pricing strategy is Apple. Many companies inventing new products set high initial prices in order to skim revenues layer by layer from the market. As a result of this new product pricing strategy, the company makes fewer but more profitable sales. This means that the company lowers the price stepwise to skim maximum profit from each segment. Price-skimming (or market-skimming) calls for setting a high price for a new product to skim maximum revenues layer by layer from those segments willing to pay the high price. It is also referred to as market-skimming pricing. The first new product pricing strategies is called price-skimming. New Product Pricing Strategies: Price-Skimming and Market-Penetration Pricing Price-Skimming – New Product Pricing
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