Product Life Cycle

23Apr09

4 Adopter categories: Innovators Early Adopters Late Adopters Laggards Managing PLC: Product Modification: changing product characteristics to boost sales (new color, flavor, product variant, etc)   Market Modification: Finding New Users (e.g. Sony launching video games for Under 13 age group) Increasing Use (e.g. Crest advertising to brush twice daily, increase consumption) Finding New Use [...]

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Pricing Strategy

23Apr09

Premium Pricing Use a high price where there is a uniqueness about the product or service. This approach is used where a a substantial competitive advantage exists. Such high prices are charge for luxuries such as Cunard Cruises, Savoy Hotel rooms, and Concorde flights. Penetration Pricing The price charged for products and services is set [...]

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