Question: When pricing a new product, a marketer will select a strategy from several dierent price strategy options. The most common strategies used are skimming price

When pricing a new product, a marketer will select a strategy from several dierent price strategy options. The most common strategies used are skimming price and penetration price.

1. What are the advantages and disadvantages of each of these two price strategies for the organization? (10 points)

2. What are the advantages and disadvantages of each of these two price strategies for the customer? (10 points)

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