New Product Pricing Strategies for Businesses

When firms release new products they need to determine how to price them. Here we look at two new product pricing strategies that firms use. One is Price Skimming and the other is Market Penetration Pricing.
Filmed in Bordeaux, France
Copyright Mark Wolters 2019
#marketing #newproductpricing #principlesofmarketing
Topic 13: Pricing
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Пікірлер: 12

  • @FlickGraphics
    @FlickGraphics2 жыл бұрын

    Thank you very much for the informative video! I found this a lot more helpful than trying to digest chapters in a textbook. Much appreciated :)

  • @angelakim1275
    @angelakim1275 Жыл бұрын

    I'm doing my first assignment re Marketing. Your explanation helped me a lot. Thanks.

  • @ProfessorWolters

    @ProfessorWolters

    Жыл бұрын

    That is wonderful to hear. Thank you

  • @tosht2515
    @tosht25154 жыл бұрын

    Introductory pricing is something local restaurateurs have to deal with regularly. One pub we went to many years ago jumped on the bandwagon and started offering *_cauliflower wings_* as a veggie option. It was super popular...at the intro price. Once they added it to their permanent menu people stopped ordering. When you're looking at chicken wings, potato skins, onion rings, nachos, etc. for $XX, those cauliflower wings at the same price point didn't cut it. 😂

  • @ProfessorWolters

    @ProfessorWolters

    4 жыл бұрын

    Hot to be careful when you start low. Customers will be trained at that price

  • @keletsolethabo
    @keletsolethabo3 жыл бұрын

    Great video short and informative

  • @ProfessorWolters

    @ProfessorWolters

    3 жыл бұрын

    that is nice to hear. thank you

  • @AisleorWindow
    @AisleorWindow4 жыл бұрын

    Great video, Mark. I'm working on early access and development partner pricing right now. Makes my brain hurt.

  • @woltersworld

    @woltersworld

    4 жыл бұрын

    I feel your pain buddy :)

  • @horseplop9
    @horseplop94 жыл бұрын

    Bonjour Professor Mark. Im a Fan of starting low. then if the product is a Hit then you raise,it up and slowly. So your first example is close to what i ment, 😃

  • @woltersworld

    @woltersworld

    4 жыл бұрын

    Cool

  • @HenrikWind
    @HenrikWind4 жыл бұрын

    Is it so annoying with introduction pricing. I want to know what i my early budget on my mobile phone is. Not a discount on the first month.😒