Marketing Quiz
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PRODUCT, BRANDING & INNOVATION
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A biotech firm has developed a revolutionary gene-editing tool, a first of its kind with no direct competitors. The R&D costs were substantial. The firm believes the underlying technology is complex enough that competitors will need several years to develop a similar product. The target market consists of well-funded research labs.
Given the situation described in the passage, which pricing strategy should the firm most logically adopt during the product's introduction?
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