Market skimming and penetration pricing strategies.

Market skimming and penetration pricing are two distinct strategies used by companies to introduce new products into the market, depending on their goals and the competitive environment.

Market skimming involves setting a high initial price for a new product, aimed at "skimming" the maximum amount of revenue from customers who are willing to pay a premium for the product. This strategy is often used for _________ ________ ______ _____ _________.
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