What is skimming pricing?
An example of an AI chatbot conversation about skimming pricing strategies.
Can you explain what skimming pricing is?
Skimming pricing is a strategy where a company sets a high price for a new product initially and then gradually lowers it.
Why would a company use skimming pricing?
Companies use skimming pricing to maximize profits from early adopters who are willing to pay more before competitors enter the market.
What are the risks of skimming pricing?
The risks include alienating price-sensitive customers and potential backlash if the price drops too quickly.
Can you give me an example of skimming pricing in action?
Sure! A common example is when tech companies launch new smartphones at a high price, then reduce it after a few months.
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