Charging high prices to earn large profits during a time when there is little competition represents a ______strategy.

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Skimming is a pricing strategy where a company sets a high price for their product during the early stages of the product's life cycle when there is little competition. The objective is to earn high profits by targeting early adopters and customers who are willing to pay a premium price for the product. As the competition increases, the company can then lower prices to attract a wider customer base.

Charging High Prices to Earn Large Profits During a Time