Please explain to me some question, thanks

1. The hardware retailer, Bunnings, is positioned as a low-cost retailer. It regularly advertises that it 'won't be

beaten on price' and gives customers the undertaking that 'if you happen to find a cheaper price on a stocked

item, we'll beat it by 10%'. This is an example of which type of pricing?

2. Companies bringing out a new product can choose between two broad strategies: market-skimming pricing

and market-penetration pricing. It is important to select the optimal approach because there's no going back

once prices have been established. Discuss the internal and external reasons for making the decision between

the two strategies.

3. a. Evaluate the pricing strategies and tactics used by retailers, providing examples NOT from the textbook. (5

marks)

b. Do you consider that the arrival of huge companies like Amazon, Alibaba etc. will force retailers to change

their pricing strategies? Give examples.