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Price skimming is suitable for products that have life cycles or which will face competition at some point in the future

Price skimming is suitable for products that have short life cycles.

Explanation:

Price skimming is a scenario where products are sold at very high prices to take the cream of the market and achieve break even. In the later stages the prices are reduced and the market is open for wider targets. The target customers are usually the early adopters. Most of electronic goods follow this type of pricing to take out the cost invested for their research purpose.

Only products which have short life cycle can have this type of pricing as the competition increases in the future. Or the replica of the products starts appearing in the market in later stages.

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