Hello I have a project that I need to determine the pricing strategy for on a fictitious new

Question

Hello,

I have a project that I need to determine the pricing strategy for on a fictitious new

product.

I am a little confused on how do you determine/answer the following:

1) Profit Oriented

a) Explain a long term and short term goals for making a profit. This should be a percentage of sales, or capital investment.

2) Sale- Oriented

a) identify and specify the level of unit sales, dollars, or share of the market you are trying to achieve with setting your product’s price.

3) Status Quo

a) meeting competition on price (this strategy is sometimes employed when the overall market is not growing, and potentially commoditized) OR if you are sing a non-price

competition pricing strategy.