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    Marketing: Difference in prices; product life cycle

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    Select a product or service.

    Then select two different organizations that provide your selected product or service and compare the prices associated with your selected product or service.

    What is the difference between the prices among the different organizations? What is the rationale for this difference?

    Select a product with which you are familiar.

    What stage is your selected product at in the product life cycle? Provide rationale for your answer.

    Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle? How will this affect the marketing of your selected product?

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    https://brainmass.com/business/the-product-lifecycle/marketing-difference-in-prices-product-life-cycle-376022

    Solution Preview

    Answer for Question Set 1:

    Q) Select a product or service.

    A) I would select the Mobile phone N95 from NOKIA. LG and SAMSUNG provide the similar featured mobile phones but as compared to NOKIA mobile phones the prices of LG and SAMSUNG mobile phones are much lower.

    Q) What is the difference between the prices among the different organizations? What is the rationale for this difference?

    NOKIA mobile phones are expensive when compared to LG and SAMSUNG because NOKIA Mobile Phones Company is in the third stage of product life cycle which means that Nokia has a lot of customers and popularity all around the world while LG and ...

    Solution Summary

    Solution clearly explains the difference between prices among products of different organizations and the rationale for the difference and product life cycle with examples.

    $2.49

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