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    Question

    Pricing for innovative banking app:

    A Penetration Correct Answer Incorrect Answer
    B Skimming Correct Answer Incorrect Answer
    C Competitive Correct Answer Incorrect Answer
    D Cost-based Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Detailed Concept Explanation Skimming pricing is suitable for innovative products where:

    • Early adopters exist
    • Competition is limited
    • Customers are less price-sensitive
    Why other options are NOT correct
    • Penetration: Low price strategy
    • Competitive: Market-matching price
    • Cost-based: Cost plus margin

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