Running Head: PRICING STRATEGY1Pricing StrategyNameInstitutional AffiliationPRICING STRATEGY2New ProductXYZ limited is planning to introduce Black Coffee with Lemon flavor to the market.Even though the company has been offering a wide array of products to the consumers for thelast three decades, the company has considered introducing this new product to satisfy the needsof the consumers as well as boost the profitability and competitive advantage of the company.The black coffee with lemon flavor is specifically targeted to consumers both in the foreign anddomestic market. In the last three decades, the company has been offering black coffee withoutlemon flavor to the customers (Armstrong et al, 2015). Over time, the demand for unique coffeeproducts with flavor has escalated. The company has also introduced this innovative product tocope with stiff competition from companies such as Costa Coffee Corporation and Starbucks.Black coffee with lemon flavor is mainly introduced by the company to utilize theunexploited market. In the recent past, the feedback from our reputable customers has indicatedthat the company needs to introduce new innovative products that satisfy customers' both coffeeand lemon desires combined. The positive feedback from our esteem customers has compelledthe company to try the new product in the market. The target market for black coffee with lemonflavor is small and commercial users both in foreign and domestic markets (Weber, 2 ...
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