. Create a profitable pricing strategy for the following productand situation. Select a price point for your product andsupport/explain your strategy using marketing concepts. Based on aquick PLC (product life cycle) and new product adoption, how do youensure the optimal profit level is reached?
• You are an existing tech company in healthy financialposition
• Releasing a radical new tech product, patent pending
• Oligopolistic competition
• Your cost: $187.39 per unit
• Competitor’s price for similar yet less innovative product:$249.99
• Approximate factory capacity: 20,000 units/week
