Pricing Strategy – Price is an important element of the marketing mix. Create a 300–400 word response and respond to any two of the following bullet points in your response.

Describe the importance of pricing in the marketing mix
Describe three different pricing strategies and provide a real-life example of each in action.
Suggest another strategy that would have worked better.
What are the steps that need to be followed for developing the pricing of a new product? Can these steps be interchanged? Why?

Conclude your post with a summary paragraph that synthesizes one or two key issues or points of your initial post. Support your answers with examples and research and cite your research using the APA format.