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Sir,
Why is it so that inorder for a price skimming strategy to be effective the product life cycle needs to be short?It is not a requirement that the life cycle be short, but it is most likely to be applicable to products with a short life cycle. The reason, as I explain in my lectures, is that it is used for new products (such as high technology), which by their very nature have short life-cycles because more advanced products are quickly replacing them.
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