Companies always face various kinds of decisions for pricing their products in the marketplace. Pricing strategies for existing products, for example, are usually different than for pricing new products.

(a) Compare and contrast pricing strategies for existing products versus pricing for new products.

(b) Explain how “pricing to maximize profits”

differs from “pricing to gain market share.”

(c) Pricing for products sold online is sometimes different from pricing for traditional face-to-face or in-store transactions. Explain how they may differ.