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When a company seeks to introduce a new product to consumers

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Question: In two hundred words define the pricing strategies and identify/describe ONE example for EACH strategy. For example, the Playstation 3 was originally sold at $599 in the US market, but it has been gradually reduced to below $200. This is an example of "Price Skimming", which is used when a company seeks to introduce a new product to consumers who are not sensitive to price. Eventually, competition will force the company to drop the price.

Reference no: EM133545201

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