Lower prices for items are being released on the market for more market shares and to improve their new name . For example Kanye west sets up his new merch website making everything only $20 and affordable for everyone . Kanye West markets towards making his clothing line affordable for everyone of his fans and anyone since its cheap and extra cost goes towards shipping only . I agree upon the pentration pricing to make it possible for smaller markets to find out whats working for them and how popular items can sell to make a profit for them.
Price skimming is charging the highest price during the intro stages of its life and the begging of its drop of their product, there is capacity's on products and usually high demand . On November 2020 when PlayStation dropped their new product the PS5 , it was priced at the price tag of $500 . Demand for a PS5 was really high as newly added features and capacity to produce and handle newer and bigger games was selling point to gamers . Playstation was backed orderd all the time and there was always never PS5s and selves . I do agree that price skimming makes a good pricing strategy to rack in profit slowly as products are highly rated upon .
Random discounting is where a firm reduces prices temporarily for or on Non systemic basis. For example, at Target they discount many items around their stories for lower prices because they want to lower their stocks of that items and these items are hard to sell or there is way too many of those specifically marked items. I agree with this since if there is to many on stocked items and on hand items it is best to reduce prices on their leaders call to help lower the number of items and mark random discounting on their own terms.
Price leaders are products below the usual markup, near cost, or even below cost. Costco uses their cheap option food court to attract their members to buy their cheap menu food before they leave, and this markets them to buy more than one product of food since prices are ranged lower for a good combo meal than outside Costco. I agree that price leaders are a big reason that firms are able to make back profits since they attract more of a audience of people and is a reason why balacnes offest .