Discuss the two new product pricing strategies and provide an example to illustrate each. Discuss the challenges faced by companies launching new products under each of these strategies.

Think about a specific brand that you use and discuss the following: Identify the branded product and discuss the brands value proposition. Describe the brand’s current marketing mix (product, place, price and promotion) How well does the marketing mix reflect, deliver and communicate the brand’s value proposition? What changes would you recommend to improve the marketing mix and why?

what are the three major pricing methods that firms employ?

Which pricing objectives will you use for your product? Consider the product life cycle, competition, and product positioning for your target market during your discussion. PlayStation