Would you like to know how businesses determine the best pricing strategy to launch new products? In this interactive video, we will explore the concept of price skimming, a popular pricing strategy used by marketers to introduce new products to the market. We will examine the advantages and disadvantages of this method, using the example of LX Technology, a company that used price skimming to launch their 8K televisions.

As we delve into the topic of price skimming, we will explain how it works, why it is effective for innovative and high-tech goods like 8K televisions, and the importance of limited competition in making this strategy successful. Through the example of LX Technology, we will learn how price skimming can lead to increased profits, perceived higher quality of product, and the recouping of research and development expenses.

By the end of the video, you will have a practical understanding of how price skimming can be applied in real-life scenarios, and how it can impact a business's revenue and profitability.