MarketingNeeds this in 2-3 days. thanksYour company is about to introduce a cellular phone into the

Marketing

Needs this in 2-3 days. thanks

Your company is about to introduce a cellular phone into the

market to compete with the Apple iPhone 5. You have been tasked with setting the price. Make a detailed pricing brief to present to the board of directors where you will discuss 1) pricing goals 2) how you will estimate demand, costs, and profits, and 3) choose a price policy to help determine a base price.

You will need to provide a plan for each of the three pricing strategies (price skimming, penetration pricing, and status quo pricing) discussing the pros and cons of each when compared to the competitors in the market in which your phone will sell.

You should also discuss how using discounts, geographic pricing, and other special pricing tactics can be used to fine-tune the base price you select.