pkr inc. is launching its new product in the market. the managers at pkr want to price the product in a way that would enable the company to recover the investments made toward developing the product. which pricing strategy would be most effective for pkr inc.?

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21-10-2022
Business

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pkr inc. is launching its new product in the market. the managers at pkr want to price the product in a way that would enable the company to recover the investments made toward developing the product. which pricing strategy would be most effective for pkr inc.?

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shardiksh890 shardiksh890 · Answer 1 · 2022-10-25T04:06:52-04:00

Price skimming strategy would be most effective for pkr inc. It would enable the company to recover the investments made toward developing the product in which new product prices are set high.

What exactly is price skimming?

Skim pricing, also defined as price skimming, is a monetization strategy in which new product prices are set high and then reduced as rivals enter the market. Skim pricing is the inverse of penetration pricing, which involves pricing newly launched products low in order to build a large customer base from the start.

Learn more on price skimming-

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