Describe the major strategies for pricing new products.

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
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Describe the major strategies for pricing new products.

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The pricing strategy that companies entering into the new market with a new product adopt are slightly different from other existing companies.

This happens because during the initial phase, companies have to focus on taking full advantage that comes from introducing a new product which was not available in the market till now. 

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