1 Develop a list of products that might use price skimming versus penetration pricing. What qualities should a product possess to use a price-skimming strategy? 

 2 Think about a product that offers different levels of quality (e.g. cars, hotels, and clothing). How do firms use price lining to establish differences between the products? Give specific examples 

3 Imagine you need an outfit for an upcoming party. You can visit Walmart where you know you will find an EDLP pricing strategy. However, Holt Renfrew is having its semi-annual sale, during which it drastically marks down its usually high prices. Where do you think you will find a better price? Which offers the better value? Why?