250 words: A company is about to launch a new brand of paper towels. The new towels are more durable and absorbent than existing paper towels in the market. You have been asked to prepare a report considering both market-skimming pricing and market-penetration pricing strategies to establish a pricing strategy for the new paper towels. Please answer the following questions:

1. What factors should be considered in determining the strategy?

2. What strategy will be recommended for the new paper towels: market-skimming pricing or market-penetration pricing?

3. Why has this strategy been selected?

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