What refers to the setting of a high price when a product is first introduced?

Name: What refers to the setting of a high price when a product is first introduced?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Skimming pricing refers to the strategy of setting a high price for a new product during its initial launch phase. This approach is often used to maximize profits from segments of the market willing to pay a premium before adjusting prices later to attract a broader customer base.

What Refers to the Setting of a High Price When