This assignment will strengthen one's understanding of the general pricing strategies as well as the new product pricing strategies. The pricing strategies are; customer-value based pricing, cost-based pricing, competition-based pricing, market skimming pricing, and market penetration pricing.

Task

Align product or service to new product development strategy, product life cycle strategies, and the general approaches to pricing as follows: (STUDENTS SHOULD POST FIRST, BEFORE SEEING OTHERS COMMENTS)

In a discussion forum, Students should:

In the initial post identify their chosen product or service and indicate which pricing strategy would suit their product or service in a profitable way (6%)

In a secondary post comment on a colleagues selected pricing strategy by agreeing or disagreeing and indicating the better pricing strategy for the respective product or service as well as adding light to the discussion. A simple agree or disagree will not suffice. (4%)

Assessment structure:

Students are expected to participate in a discussion forum. The initial post will be at a maximum of 250 words and a maximum of 150 words for the secondary post. (10% - coursework grade)