No current competitors

Crystal Soaps wants your help in setting an initial price for its products to ensure a dramatic launch.

Your client is convinced that this new product is truly different from anything else on the market, and she tells you that she doesn't see any competitors on the horizon for the foreseeable future. Based on this information, which of the following should you recommend to your client to capitalize on the situation?

Select an option from the choices below and click Submit.

$$ Pursue a price skimming strategy.

$$ Bundle the product with a free wicker basket and a scented candle.

$$ Use price discounts to stimulate sales.

$$ Use a penetration pricing strategy to establish the product in the market.