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Price Skimming is a pricing strategy where a higher price is set for a new product or service at first, then the price is gradually lowered over time. This strategy is used to recover the cost of development and to take advantage of a price-insensitive segment of consumers who are willing to pay a premium for the novelty of the product or service.
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Cost-Plus Pricing – the process of simply calculating your costs and adding a mark-up. Competitive Pricing – the process of setting a price based on what the competitors' prices. Value-based Pricing – the process of setting a price based on the customer's price expectations. Price Skimming – the process of setting a higher price and bringing it down as the market evolves. Penetration Pricing – the process of setting a lower price to enter a competitive market and rising it with time.
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Take the most advantageous pricing approach to increase profitability of your organization. Use our Pricing Strategies presentation to outline factors...
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