Scenario: Sterling Morrow, a fashion brand known for casual dresses, is launching a new product line: Carry Tu, a line of women’s fashion bags.

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Scenario:

1) The first product item that you must recommend a pricing strategy for is the satchel. The satchel will be the first of the Carry Tu bags to hit the market.

Which of the following market-entry pricing strategies do you recommend? 

Select an option from the choices below

Market penetration pricing strategy: Setting the price very low initially

Market skimming pricing strategy: Setting the price very high initially