3M is a master of the ________ pricing strategy, which uses a high initial price for a new product.

A) penetration
B) cost-plus
C) ROI
D) market-oriented
E) skimming

Skimming Pricing

A pricing strategy involving setting high prices initially and then gradually lowering them over time.

High Initial Price

A pricing strategy where a new product is introduced to the market at a high price point to recuperate development costs and target early adopters.

3M

3M is a multinational conglomerate corporation known for its research and development of thousands of products, including adhesives, abrasives, laminates, passive fire protection, and personal protective equipment.