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August 31st, 2020 
Answer the following questions. Refer to the attached documents if needed.
1. When setting prices, the company must consider its external pricing environment. Describe three components of the pricing environment and how they affect businesses of your choice [Target Corporation].
2. Companies bringing out a new product can choose between three broad strategies: a skimming price, penetration pricing, and trial pricing. Distinguish among the three.
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