Price Skimming:A pricing strategy where a firm charges the highest initial price that customers will pay and then lowers it over time as demand decreases.
Market Share:The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales in that market.
Cost: plus Pricing - A pricing method where the selling price is determined by adding a specific markup to a product's unit cost, ensuring all costs are covered and a profit margin is achieved