When digital watches were first introduced by a select few manufacturers in the 1970s, the products were placed at a very high price. Once other manufacturers also ventured into the market, the prices came down. In this scenario, the original manufacturers were using a price strategy called _____.

When digital watches were first introduced by a select few manufacturers in the 1970s, the products were placed at a very high price. Once other manufacturers also ventured into the market, the prices came down. In this scenario, the original manufacturers were using a price strategy called _____.

When digital watches were first introduced by a select few manufacturers in the 1970s, the products were placed at a very high price. Once other manufacturers also ventured into the market, the prices came down. In this scenario, the original manufacturers were using a price strategy called _____.


a. status quo pricing

b. bait-and-switch pricing

c. price skimming

d. penetration pricing



Answer: c.


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