Price skimming is a strategy in which a company starts with a high price to capture uniqueness and competitive advantage, and then drops the price as competitors enter the market in order to stay ahead of competition.
Strategy is an action that managers take to attain one or more of the organization's goals. Strategy can also be defined as a combination of various components to achieve a desired state in the future.
The five elements of the strategy include Arenas, Differentiators, Vehicles, Staging, and Economic Logic.
Strategy helps us define our business and our feature goal which gives it a set of values, and gives it purpose. It helps us to understand what success actually looks like.
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