Price Skimming: Definition, Examples & Strategy Video

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of the following is the best explanation of price skimming?

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1. How many pricing phases does a product usually go through in price skimming?

2. What other product concept is related to price skimming?

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About This Quiz & Worksheet

Focusing on the lifecycle of a product's price, this quiz and corresponding worksheet will help you gauge your knowledge of the price skimming strategy in business. Topics you'll need to know to pass the quiz include understanding the best explanation of price skimming as well as knowing how many phases a product usually goes through in price skimming.

Quiz & Worksheet Goals

Use this printable worksheet and quiz to review:

  • Definition of price skimming
  • Number of phases in price skimming
  • Related area to price skimming
  • Targeted consumer in phase one
  • Third phase's targeted consumer

Skills Practiced

This worksheet and quiz will let you practice the following skills:

  • Interpreting information - verify you can read information regarding the related area to price skimming and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the number of phases in price skimming
  • Reading comprehension - ensure that you draw the most important information from the related price skimming lesson

Additional Learning

To learn more about how to squeeze as much money as you can out of something, review the corresponding lesson called Price Skimming: Definition, Examples & Strategy. This lesson will help you:

  • Understand what price skimming is
  • Describe the purpose behind such a pricing strategy
  • Identify the three phases a typical product goes through
  • Explain the intended targets and characteristics of each phase
  • Appreciate how to realize the most profit from a product
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