What topics are covered in chapter 17 related to pricing?

The coverage of pricing in chapter 17 focuses on pricing strategies related to the early stages of the product life cycle. This is a critical topic because pricing decisions can significantly impact a product's market entry and overall success. During the introduction phase, businesses often need to decide whether to implement penetration pricing to attract customers quickly or skimming pricing to maximize profits from early adopters. Understanding the dynamics of pricing in the early product life cycle helps marketers position their products effectively, manage customer expectations, and create strategies that align with both product development and market response.

While competitor pricing, advertising and promotion, and psychological pricing are important aspects of pricing strategy, they are discussed in different contexts or chapters. The emphasis in this particular chapter is specifically on how pricing adapts and evolves as products transition through different stages of the life cycle, making it an essential consideration for marketers looking to optimize revenue and market presence at the outset.