OBJECTIVE 1: To explore how companies make essential pricing decisions, including the crucial concept of “price positioning,” which determines the nature of the competitive rivalry that the company is faced with. OBJECTIVE 2: To showcase the array of pricing strategies available when a company is gearing up to launch new products or product lines. This exploration will shed light on the potential consequences, advantages, and disadvantages of these strategies, underscoring the weight of the decisions at hand. OBJECTIVE 3: To elucidate that pricing is not a static element, but one that evolves with the market segment the company targets and the stage of the product life cycle. This understanding will help the audience appreciate the dynamic nature of their pricing decisions.