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Establish the product in the market

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Reference no: EM132989246

Decision Point: Your First Meeting: Crystal Soaps

Home grown alum crystals, a science project and the easiest to grown minerals

Your first client has a unique crystal-like soap set to launch. She's sent you the following information:

The Crystal Soap

Next-generation soap
Set to go to market this month
Took time to develop, test for safety, and work out production problems
No current competitors

Crystal Soaps wants your help in setting an initial price for its products to ensure a dramatic launch.

Your client is convinced that this new product is truly different from anything else on the market, and she tells you that she doesn't see any competitors on the horizon for the foreseeable future. Based on this information, which of the following should you recommend to your client to capitalize on the situation?

Select an option from the choices below and click Submit.

Pursue a price skimming strategy.

Use price discounts to stimulate sales.

Use a penetration pricing strategy to establish the product in the market.

Bundle the product with a free wicker basket and a scented candle

Reference no: EM132989246

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