Concept:Market skimming is a pricing strategy that sets a high initial price to attract buyers willing to pay more.
Explanation:The focus is on the wealthy or high-end segment of the market.
This strategy is often used for new or unique products.
The high price helps the seller earn maximum profit from early adopters.
Later, the price is gradually lowered to reach other customer groups.
This makes the product appear exclusive and premium.
It is the opposite of market penetration, which uses low prices to attract a large market quickly.
Therefore, setting high prices to target the wealthy segment describes market skimming.
Answer:B. Market skimming