Mic is thinking of leaving markets 1 and 2 and entering overseas markets 3 and 4. In market 3 it would initially charge low prices so as to gain rapid market share while demand is relatively elastic, it would initially charge high prices so as to earn maximum profits while demand is relatively inelastic. Which pricing strategy would moc use in each market ?

Answer rating: 100% (QA)

Mic would use a Penetration Pricing strategy in market 3 and a Price Skimming strategy in market 4 P... View the full answer