Which type of buyers would typically be targeted by a price skimming strategy?

A price skimming strategy is designed to maximize profits by setting high prices on new products when they are first introduced to the market. This tactic is particularly effective for products that have unique features or innovations that distinguish them from existing offerings.

Targeting innovation buyers makes sense because these consumers are often willing to pay a premium for new technology or products that offer enhanced benefits, unique experiences, or improved performance. Such buyers are usually early adopters who are motivated by having the latest and greatest products and are less sensitive to price increases.

On the other hand, price-sensitive customers, discount shoppers, and bulk purchasers typically seek lower prices and value over unique features. These groups are more focused on savings, deals, and cost-effectiveness, making them less compatible with a strategy aimed at maximizing revenue from initial sales through higher price points.