An approach under which a producer sets a highprice for a new high-end product (such as an expensive perfume) or a uniquely differentiated technical product (such as one-of-a-kind softwareor a very advanced computer). Its objective is to obtain maximum revenue from the marketbefore substitutes products appear. After that is accomplished, the producer can lower the price drastically to capture the low-end buyers and to thwart the copycat competitors.