- 10 Marks
BMIS – L1 – QE4 – Pricing strategies
Explain four conditions for Horizon Tech to adopt a market skimming strategy successfully.
Question
(a). Horizon Tech is a knowledge-based company and is known for its ability to manufacture innovative and new-to-the-market electronic products and sell them in specifically identified niche markets. The company follows a market skimming strategy to achieve its profitability objectives.
Required
Explain four conditions which are essential for Horizon Tech to be able to successfully adopt its market skimming strategy.
(b). Unity Furniture Co. are manufacturers of a wide range of household furniture products used primarily by customers in the middle-income group.
Required
Identify four different types of conditions in which it would be advantageous for the firm to pursue a market penetration strategy.
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