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If a new product is being introduced into the Market, is it appropriate for the price to be high whilst competitors prices are low?

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تم إضافة السؤال من قبل Alexander Femi OKHIRIA , Consultant , BPMSE Consulting
تاريخ النشر: 2015/07/23
Nasir Hussain
من قبل Nasir Hussain , Sales And Marketing Manager , Pakistan Pharmaceutical Products Pvt. Ltd.

It will all depend on your core marketing strategy. People buy products on benefits and advantages, price comes later. Yes if you want to give a tough competition to others you have to design a clever pricing strategy. 

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من قبل مستخدم محذوف‎

this is a complicated question with many parameters to consider. The information given in the question is insufficient for an educated answer. You will need to concider paramaters such as : the competition itself, product quality, Distribution, awareness of brand, too name but a few..SWOT and PEST analysis of the market is essential to answer the question.

Ibrahim Hussein Mayaleh
من قبل Ibrahim Hussein Mayaleh , Sales & Business Consultant and Trainer , Self-employed

Pricing policy varies depending on several factors: market demand, competitors, your own reputation, quality, your customers, added value, ,....

Mehboob Ali Laghari
من قبل Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union

A business must have a set of questions to be answered by business itself based on "IFs & BUTs" since this strategy involves great risk of failure. the business should have a good contingency plan.

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