Explain 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

Question: Explain 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,

Explain 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.

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