Setting the highest initial price that customers really desiring the product are willing to pay when introducing a new or innovative product is referred to as a

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EssiePooh4112 EssiePooh4112

16-07-2017
Business

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Setting the highest initial price that customers really desiring the product are willing to pay when introducing a new or innovative product is referred to as a

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tesy tesy · Answer 1 · 2017-07-16T14:02:56+02:00

I believe it's "Skimming Pricing" which is get initially the highest price of a product. If customers desire the product they will pay the high price.

If customers do not pay for the initial high price of a product, the company of the product will reduce the price.
Skimming price- means to originally (initially) get the highest price of a product for customers to buy; desired product works best. If customer demand fails; product price decreases.

Hope this helps :)