Question

The newest version of a product like Crutchfield headphones is likely to use _____, while the new version of Monster Energy is likely to use _____ .

Answer 1

The newest version of a product like Crutchfield headphones is likely to use price skimming, while the new version of Monster Energy is likely to use  penetration pricing

What is  price skimming?

Price skimming is a pricing strategy that a company can use when launching a new product or service.

Electronic products, such as the Apple iPhone, frequently use a price-cutting strategy during the initial launch period. Then, after competitors launch competing products, such as the Samsung Galaxy, the price of the product drops to maintain the product's competitive advantage.

The pricing strategy will be influenced by the stage of the product's life cycle. The process of charging a relatively high price for a product is referred to as price skimming. Skimming is commonly used when a product is new to the market (in its introduction or growth phase) and has few competitors.

To know more about  price skimming follow the link:

brainly.com/question/15371394

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