Cellphones with unique new technology are usually released in the market at a high price since there is no immediate competition for the product. Gradually, the prices are reduced to capture more customers and to compete with competitors who copy the new technology. This type of pricing strategy is known as _____.

A) value-based price policy
B) temporary price cut policy
C) skimming price policy
D) penetration price policy
E) one-price policy

Answer: C) skimming price policy