Question: What is the key difference between penetration pricing and price skimming? Question 1 1 options: Penetration pricing sets a high initial price and then lowers

What is the key difference between penetration pricing and price skimming?

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Penetration pricing sets a high initial price and then lowers it over time, while price skimming starts with a low price to gain market share quickly.

Penetration pricing and price skimming both involve starting with high prices and lowering them slowly.

Penetration pricing involves setting a low initial price to quickly gain market share, while price skimming starts with a high price before lowering it over time.

Both strategies focus on maintaining a consistent price level throughout the product's life cycle.

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