Assume that a company has developed a new product, or a new version of an old product that is significantly different and improved. For a while the company is the only supplier or producer of this product. What should be the pricing strategy of the firm? What factors should be taken into consideration when determining the pricing strategy?

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When a company has developed a new or significantly improved product and is the sole supplier or producer for a period it has the opportunity to imple... View the full answer