Market skimming pricing,

Definition of Market skimming pricing:

1. An approach in which the manufacturer charges a higher price for a new and sophisticated product (e.g., an expensive perfume) or a special technical product (e.g., special software or a high-end computer) Is. The goal is to maximize revenue from the market before displaying alternative products. That being said, the manufacturer can lower the price to attract low-level buyers and disappoint the copycat competitors.