How can a brand like H&M follow these steps of pricing for a new innovation

Step 1 : Select pricing objectives

Step 2 : Assess target markets evaluation of price and ability to buy

Step 3 : Determine demand

Step 4 : Analyse cost and profit relationships

Step 5 : Evaluate competitor prices

Step 6 : Select a basis for pricing

Step 7 : Select pricing Strategy

Step 8: Determine Price