New Product Pricing Strategies for Businesses

When firms release new products they need to determine how to price them. Here we look at two new product pricing strategies that firms use. One is Price Skimming and the other is Market Penetration Pricing.
Filmed in Bordeaux, France
Copyright Mark Wolters 2019
#marketing #newproductpricing #principlesofmarketing
Topic 13: Pricing
KZbin Advice Playlist:
• KZbin Tips & Advice
Marketing Training Playlist:
• Marketing Videos
I hope that these marketing & business videos can help you learn more about business and help you succeed in class or in the business world. And yes, this is the same Mark Wolters from the KZbin travel channel Wolters World.
Find More Marketing Videos & Course Information at www.woltersworl...
or on our future site www.professorwo...
Grab Some Wolters Gear: www.woltersworl...
Follow us on Facebook: / professorwolters
Subscribe to Our Other KZbin Chanel "Wolters World Travel & Culture"
/ woltersworld

[@FlickGraphics]

Thank you very much for the informative video! I found this a lot more helpful than trying to digest chapters in a textbook. Much appreciated :)

[@angelakim1275]

I'm doing my first assignment re Marketing. Your explanation helped me a lot. Thanks.

[@ProfessorWolters]

That is wonderful to hear. Thank you

[@keletsolethabo]

Great video short and informative

[@ProfessorWolters]

that is nice to hear. thank you

[@tosht2515]

Introductory pricing is something local restaurateurs have to deal with regularly. One pub we went to many years ago jumped on the bandwagon and started offering *_cauliflower wings_* as a veggie option. It was super popular...at the intro price. Once they added it to their permanent menu people stopped ordering. When you're looking at chicken wings, potato skins, onion rings, nachos, etc. for $XX, those cauliflower wings at the same price point didn't cut it. 😂

[@ProfessorWolters]

Hot to be careful when you start low. Customers will be trained at that price

[@horseplop9]

Bonjour Professor Mark. Im a Fan of starting low. then if the product is a Hit then you raise,it up and slowly. So your first example is close to what i ment, 😃

[@woltersworld]

Cool

[@AisleorWindow]

Great video, Mark. I'm working on early access and development partner pricing right now. Makes my brain hurt.

[@woltersworld]

I feel your pain buddy :)

[@HenrikWind]

Is it so annoying with introduction pricing. I want to know what i my early budget on my mobile phone is. Not a discount on the first month.😒