Q77
Complete the following sentence: A pricing strategy where you set your prices high for quick cash and little emphasis on market penetration is called __________________________. [1 Mark]
Expert Answer
A pricing strategy where you set your prices high for quick cash and little emphasis on market penetration is called Price Skimming.
The objective of this method is to earn the maximum profit through low sales but high price, this generally occurs in case of a new product or a new range of products completely. The aim the organizations possess is to obtain the maximum amount of cash at high price
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