When Top-Flite introduced its Strata golf balls with a new design for better flight with hit by metal clubs, it charged three times the price of golf balls currently on the market. This high introductory pricing is an example of:

Question

Business

Reeves

10 February, 04:45

When Top-Flite introduced its Strata golf balls with a new design for better flight with hit by metal clubs, it charged three times the price of golf balls currently on the market. This high introductory pricing is an example of:

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Answers (1)

Know the Answer?

Rachael Benjamin · Answer 1

Answer: Price skimming

Explanation:

The price skimming is one of the type of pricing strategy in which the various types of companies or firms initial charge the high price o the products and the services in the market and over the time they also lowers the price of the products.

Due to the various types of reasons such as competition in the market and also for the consumer satisfaction they change the price on the basis of the given situation.

According to the given question, The top-Flite introduced a new design Strata golf balls and they charged the price three times high as compared to the other golf balls available in the market so this type of high introductory pricing is one of the example of the price skimming concept.

Therefore, price Skimming is the correct answer.