Essay: Strategy adopted by Segway

Sample Essay

“Market penetration pricing is a quick-entry price strategy that assumes low price will gain high sales volume which, in turn, will result in lowering costs” (Bovay). Using this strategy the company would have could have charged a price of $1,000 to $1,200 for the product initially, with price being increased for customized versions, and those with upgrades in the later stage.

This low prices marketing and pricing strategy would have enabled the Segway to be integrated in the mainstream consumer market as it would have been more affordable for the users.

The main reason as to why the skimming strategy based high price was not affordable for many was because a decent used car can be bought in the US for $2,500-$3,000 which accommodates 4-5 people, while the Segway also priced at $3,000 only accommodated one rider.

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