A new technology product has few close rivals, high development costs and customers willing to pay for early access. Which pricing strategy is most suitable initially?
Penetration pricing to create the lowest possible margin
Price skimming to earn more from early adopters
Competitive pricing based on many identical rival products
Promotional pricing that permanently removes the premium image
36 exam-style questions on Edexcel GCSE Business 2.2 Making marketing decisions, covering 2.2.1a The design mix, 2.2.1b The product life cycle, 2.2.1c Product differentiation, 2.2.2a Pricing strategies, 2.2.2b Influences on pricing strategies, 2.2.3a Promotion strategies for market segments, 2.2.3b The use of technology in promotion, 2.2.4 Place, 2.2.5a How marketing mix elements interact, and 2.2.5b The integrated marketing mix and competitive advantage. Each one has a worked solution and a mark scheme showing where the marks go.