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Hi Sir,
Sir i know what is penetration and skimming approach, but i don’t understand a question which is as follow:Compare and contrast penetration and skimming approaches? what is meant by compare and contrast, i read the answer several time but could’t got the exact difference.
‘Compare and contrast’ means that they want you to describe each of them and explain the difference.
Penetration pricing is setting a low price in order to try and gain market share (with the intention of increasing the price later).
Price skimming is starting with a high price with the intention of reducing it over time.I give ‘real life’ examples of both in the free lecture on pricing.
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