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Soft Skin is establishing a pricing strategy for a new eyeshadow that uses organic materials. Although the total cost to produce each unit is $2.50,

Soft Skin is establishing a pricing strategy for a new eyeshadow that uses organic materials. Although the total cost to produce each unit is $2.50, the company has decided to price it in the market at $27 per unit because the product is known to be healthy to the eye without any side effects. The product is much safer than what competitors are producing and selling to customers for $17 per unit. Soft skin is using which approach to price this new eyeshadow?

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