Dangote Cement Plc sets the price of a new product at ₦18,000 per bag, which is significantly higher than competitors, to signal superior quality and recover research costs quickly. This pricing strategy is best described as:

Price skimming involves setting a high initial price to maximise revenue from early adopters before gradually reducing the price. Penetration pricing sets a low price to gain market share quickly, while cost-plus pricing adds a fixed markup to production cost, and competitive pricing mirrors rival prices.