Skimming and Scanning
Skimming refers to the process of reading only main ideas within a passage to get an overall impression of the content of a reading
selection.
How to Skim:* Read the title.
* Read the introduction or the first paragraph.
* Read the first sentence of every other paragraph.
* Read any headings and sub-headings.
* Notice any pictures, charts, or graphs.
* Notice any italicized or boldface words or phrases.
* Read the summary or last paragraph.
Scanning is a reading technique to be used when you want to find specific information quickly. In scanning you have a question in your mind and you read a passage only to find the answer, ignoring unrelated information.
How to Scan:
* State the specific information you are looking for.
* Try to anticipate how the answer will appear and what clues you might use to help you locate the answer. For example, if you were looking for a certain date, you would quickly read the paragraph looking only for numbers.
* Use headings and any other aids that will help you identify which sections might contain the information you are looking for.
* Selectively read and skip through sections of the passage.
(From College Reading and Study Skills and
Academic Reading and Study Skills for International Students)
Limitations of price skimming
There are several potential problems with this strategy.
- It is effective only when the firm is facing an inelastic demand curve. If the long run demand schedule is elastic (as in the diagram to the right), market equilibrium will be achieved by quantity changes rather than price changes. Penetration pricing is a more suitable strategy in this case. Price changes by any one firm will be matched by other firms resulting in a rapid growth in industry volume. Dominant market share will typically be obtained by a low cost producer that pursues a penetration strategy.
- A price skimmer must be careful with the law. Price discrimination is illegal in many jurisdictions, but yield management is not. Price skimming can be considered either a form of price discrimination or a form of yield management. Price discrimination uses market characteristics (such as price elasticity) to adjust prices, whereas yield management uses product characteristics. Marketers see this legal distinction as quaint since in almost all cases market characteristics correlate highly with product characteristics. If using a skimming strategy, a marketer must speak and think in terms of product characteristics to stay on the right side of the law.
- The inventory turn rate can be very low for skimmed products. This could cause problems for the manufacturer's distribution chain. It may be necessary to give retailers higher margins to convince them to handle the product enthusiastically.
- Skimming encourages the entry of competitors. When other firms see the high margins available in the industry, they will quickly enter.
- Skimming results in a slow rate of stuff diffusion and adaptation. This results in a high level of untapped demand. This gives competitors time to either imitate the product or leap frog it with a innovation. If competitors do this, the window of opportunity will have been lost.
- The manufacturer could develop negative publicity if they lower the price too fast and without significant product changes. Some early purchasers will feel they have been ripped off. They will feel it would have been better to wait and purchase the product at a much lower price. This negative sentiment will be transferred to the brand and the company as a whole.
- High margins may make the firm inefficient. There will be less incentive to keep costs under control. Inefficient practices will become established making it difficult to compete on value or price.
Skimming and Scanning
selection.
* Read the introduction or the first paragraph.
* Read the first sentence of every other paragraph.
* Read any headings and sub-headings.
* Notice any pictures, charts, or graphs.
* Notice any italicized or boldface words or phrases.
* Read the summary or last paragraph.
Scanning is a reading technique to be used when you want to find specific information quickly. In scanning you have a question in your mind and you read a passage only to find the answer, ignoring unrelated information.
How to Scan:
* State the specific information you are looking for.
* Try to anticipate how the answer will appear and what clues you might use to help you locate the answer. For example, if you were looking for a certain date, you would quickly read the paragraph looking only for numbers.
* Use headings and any other aids that will help you identify which sections might contain the information you are looking for.
* Selectively read and skip through sections of the passage.
(From College Reading and Study Skills and
Academic Reading and Study Skills for International Students)
Limitations of price skimming
There are several potential problems with this strategy.
- It is effective only when the firm is facing an inelastic demand curve. If the long run demand schedule is elastic (as in the diagram to the right), market equilibrium will be achieved by quantity changes rather than price changes. Penetration pricing is a more suitable strategy in this case. Price changes by any one firm will be matched by other firms resulting in a rapid growth in industry volume. Dominant market share will typically be obtained by a low cost producer that pursues a penetration strategy.
- A price skimmer must be careful with the law. Price discrimination is illegal in many jurisdictions, but yield management is not. Price skimming can be considered either a form of price discrimination or a form of yield management. Price discrimination uses market characteristics (such as price elasticity) to adjust prices, whereas yield management uses product characteristics. Marketers see this legal distinction as quaint since in almost all cases market characteristics correlate highly with product characteristics. If using a skimming strategy, a marketer must speak and think in terms of product characteristics to stay on the right side of the law.
- The inventory turn rate can be very low for skimmed products. This could cause problems for the manufacturer's distribution chain. It may be necessary to give retailers higher margins to convince them to handle the product enthusiastically.
- Skimming encourages the entry of competitors. When other firms see the high margins available in the industry, they will quickly enter.
- Skimming results in a slow rate of stuff diffusion and adaptation. This results in a high level of untapped demand. This gives competitors time to either imitate the product or leap frog it with a innovation. If competitors do this, the window of opportunity will have been lost.
- The manufacturer could develop negative publicity if they lower the price too fast and without significant product changes. Some early purchasers will feel they have been ripped off. They will feel it would have been better to wait and purchase the product at a much lower price. This negative sentiment will be transferred to the brand and the company as a whole.
- High margins may make the firm inefficient. There will be less incentive to keep costs under control. Inefficient practices will become established making it difficult to compete on value or price.
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