What are some successful examples of skimming pricing?
An example of an AI chatbot conversation about successful skimming pricing strategies.
What are some successful examples of skimming pricing?
Skimming pricing is a strategy where a product is launched at a high price and gradually lowered. A classic example is Apple's iPhone, which is initially priced high to maximize profits from early adopters.
Can you give me more examples besides the iPhone?
Sure! Other examples include video game consoles like the PlayStation, luxury fashion brands, and new pharmaceuticals that start with high prices before competition drives them down.
What are the benefits of using skimming pricing?
The benefits include recovering development costs quickly, targeting early adopters willing to pay more, and creating a perception of exclusivity.
Are there any risks associated with skimming pricing?
Yes, risks include alienating price-sensitive customers, potential backlash if prices drop too quickly, and competitors entering the market with lower prices.
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