JAMB Commerce 2019 Objective — Question 37
Question 37 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2019 Objective paper, with the correct answer and a full explanation.
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Market skimming is an example of
- A. market penetration
- B. sales promotion
- C. pricing policyCorrect
- D. advertising
Explanation
Market skimming is a pricing policy/approach in which the producer sets a high introductory price to attract buyers with a strong desire and the resources to buy the product, then gradually reduces the price to attract subsequent layers of the market.
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