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What should a company consider when setting a price of a new product? Answer with examples

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Question added by SUNIL KUMAR SINGH , Sales & Marketing Executive , NLM (FMCG)
Date Posted: 2013/04/17
Hossam Abbas
by Hossam Abbas , General Manager , Bingo Global

The company should consider the following main factors:
1- Company Objectives
2- Costs
3- Competition
4- Positioning
5- Targeting Those are the basic factors, analyzing them will lead you to the best pricing strategy you can use, like : Skimming, penetration, bundle, Psychological ...etc

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