This document discusses different pricing strategies used by companies, including price skimming, penetration pricing, and geographical pricing. Price skimming involves setting a high initial price for new products to target less price-sensitive customers. Penetration pricing aims to maximize sales volume by lowering prices for products entering established markets. Geographical pricing accounts for differences in cost of living across markets. The apparel industry faces tradeoffs between high and low prices to attract budget, value, or luxury shoppers. Companies must consider factors like demand elasticity, production costs, and competition when selecting the appropriate pricing strategy.