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Explain Pricing a New Product, and also explain two kinds of pricing strategies.
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written 3.5 years ago by
prajapatijaimin
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Solution:
Pricing a New Product:
Pricing policy in respect of a new product depends on whether or not close substitutes are available.
Depending on whether or not close substitutes are available, in pricing a new product, generally, two kinds of pricing strategies are suggested, viz., (i) price skimming, and (ii) …
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