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When:
1- There are customers can buy at the high price.
2- There are not competitors to compete for high price.
3- The product has high quality.
When it is distinct in all marketing stages
Product with key differentiators from the competitors. Buying power of the target market.
Market skimming strategies would include ads in premium , or technical magazines which the target audience reads. If the audience is tech savvy then internet including ads in Google , face book etc could be considered.
Usually its with high end product, or a product in a niche market.
Respected Sir
· When my target is capture the NICHE market my strategy would be to skim the market.
· When the product is positioned to the top niche market my strategy would be to focus on the niche audience and not on the whole market.
· Market skimming strategies would include ads in premium , or technical magazines which the target audience reads. If the audience is tech savvy then internet including ads in Google , face book etc could be considered.
· The main difference between mass marketing or penetration marketing and market skimming would be market skimming would only target a part niche of the market.
· For example – A marketing strategy for a sports car or a high end digital camera to picture wild life, would be market skimming strategy. This is because everyone may not need or afford them.
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