A luxury car brand is entering the Saudi Arabian market for the first time. Despite their product being sold for €450,000 in Europe, they decide to set their initial price at €520,000 in Saudi Arabia due to high levels of demand from waiting customers and then harmonies prices after a year. 

What form of pricing strategy is this?

Answer rating: 100% (QA)

The pricing strategy employed by the luxury car brand when entering the Sau... View the full answer