Question

Lush Cosmetics, a firm based in the U.S., recently started exporting cosmetics to India. Lush introduced a new range of mineral-based makeup for the first time in the Indian market. It was also priced much higher than the other brands in the market. This is an example of _____.

Answer 1

price skimming

Step-by-step explanation:

Price skimming -

It is a method , by which the organisation alters the initial price , which is gets lower over the period of time , is referred to as price skimming .

Initially as the demand of the product is more , the price is kept higher , but as time passes , the demand reduces and therefore the price of the product also reduces .

Hence , the example given in the question is about price skimming .