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What Is Price Skimming and Can It Benefit Your Business?

September 11, 2015 by OSYB Staff

After setting the initial price high for early adopters and less price-conscious consumers, the firm gradually lowers rates until even the most frugal of buyers will partake. In this way, the company is skimming customer segments like layers of cream. Price skimming is a strategy designed to maximize profits.

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