Illustrates the reasons for charging skimming price strategy
Illustrates the reasons for charging skimming price strategy?
Expert
Reasons for charging Skimming price strategy are as follows:
1. While the demand of new product is relatively inelastic.
2. While there are no close substitutes
3. Elasticity of demand is not identified.
4. While the buyers are not capable to compare the value and utility.
5. For attracting the high income customers.
6. For recovering early the R and D and promotional expenses.
7. When the product has distinctive qualities and luxuries.
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The demand for labor is less elastic when: (w) resource substitution is easy. (x) output demand is relatively inelastic. (y) wages are a huge percentage of total cost. (z) firms have more time to adjust to wage changes. Discover Q & A Leading Solution Library Avail More Than 1419919 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1926176 Asked 3,689 Active Tutors 1419919 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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