Answer:
Price Skimming
Explanation:
Price skimming is one kind of price-setting strategy where marketers set a relatively higher price when the product launch initially in the market. Generally, the producer sets a higher price rather than it should prevail in the market, and later on, the price goes down due to lower demand. Price skimming strategy only applicable to a new product that is about to launch in the market. It is generally done by fancy advertising of the product.
