1. The ura ring is a premium product that offers unique features and is priced higher than...
Question:
1. The Ōura ring is a premium product that offers unique features and is priced higher than the competition. Identify the pricing strategy the company is using. Explain this strategy and discuss why premium products use this strategy so frequently.
2. Former Ōura CEO Harpreet Singh Rai has said that current Ōura Ring owners will be able to buy new rings and use them subscription-free, as a reward for early adoption. Identify the type of pricing strategy he is employing here and explain what it is. Give an example (other than to reward early adopters) of when this strategy might be used.
3. With the ŌuraRing Generation 3, users can get the Readiness score without the monthly fee, but if they upgrade to the subscription, they gain full access to all of the data and health insights the new ring offers. What is this strategy called? In addition to break-even analysis, pricing strategies such as this one incorporate what kind of considerations?
Step by Step Answer:
1 They are using a price skimming strategy A price skimming strategy sets prices for products or ser...View the full answer
Small Business Management Launching And Growing Entrepreneurial Ventures
ISBN: 9780357718803
20th Edition
Authors: Justin G. Longenecker, J. William Petty, Leslie E. Palich, Frank Hoy
