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Market Peneration is a pricing strategy that in which product or services are provided initially at lower prices with a view to capture market share. It happens usually when there is a tough competition in the market for the product or service that your company is offering.
Market skimming is the strategy in which the product is launched initially at higher price such is the case with technological products the manufacturers try to get the maximum return from the product before the rivals launched the subtitute of their product. A classic example of this can be Iphone vs Samsung etc.
Market discrimination is where the company is offering the same product or service to on different prices for example selling the same product to developed countries with high prices and third worlds countries with lower prices. This kind of practice has been reduced since the globalisation of information with internet since people can easily get a feel for the worth of product by searching for prices on the websites such as ebay. However, price discrimination still exists depending on the type of product and the location in which business operates
