A strategy that establishes the price at the highest possible level and targets only a select number of consumers who can afford the product/service, is _____.

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Price Skimming is a pricing strategy where a firm charges the highest initial price that customers will pay and then lowers it over time. This approach is often used for new, innovative, or premium products targeting consumers willing to pay more at the launch.

A Strategy That Establishes the Price at the Highest Possible