Question

When Sony introduced the first consumer VCRs in the 1970s, the retail price exceeded $1,000. Within a few years, the price dropped well below $500. This is an example of: Group of answer choices

Answer 1

Skimming strategy

Step-by-step explanation:

The price skimming strategy refers to the strategy in which the firm charge high price at the earliest time and then it reduced the price as the time passes

Since in the question it is mentioned that first Sony introduced the VCR at $1,000 then it falls the price i.e less than $500

So this situation represents the skimming strategy