XY Ltd is introducing a new smartwatch onto the market. The watch provides new and innovative features that people are not familiar with yet. Meanwhile, XY Ltd does not expect competitors to introduce a similar product in the near future.

Required:

Advise XY Ltd, with reasoning, as to whether they should use market skimming or market penetration as their pricing strategy

Answer rating: 100% (QA)

The detailed answer for the above question is provided below Answer i On the other hand if there is intense competition in the market and XY Ltd needs to quickly gain market share then market penetrat... View the full answer