Problem
The expected retail price is 179 Euro (or 188 USD approximately based on the exchange rate of 1 Euro for 1.05 USD)
1. If the product is sold in the US, what reference price should be used to determine the appropriate selling price of the product in the US? Explain why you think such a reference price will be a good benchmark for your product's price.
2. How much would you price your product in USD? Based on the target market profile, the product characteristics, and the competitors/substitutes, why do you believe the proposed price is reasonable?
3. What other pricing strategies do you think can be used to make this product becomes more attractive to the target market?