Products, services, or social products and Pricing
Not what you're looking for?
Please help me find some information about life cycles of products, services, or social products. Please give an example and how it relates to price with at least 150 words. This is a healthcare marketing class.
Purchase this Solution
Solution Summary
By example, this solution explores the life cycles of products, services, or social products, and how it relates to price. Supplemented with information on the life cycle of the product.
Solution Preview
Hi,
Good question! I located tons of information! I included the links for further expansion. I also provided two extra resources to consider.
Let's take a closer look.
RESPONSE:
1. Please help me find some information about life cycles of products, services, or social products. Please give an example and how it relates to price with at least 150 words. This is a healthcare marketing class.
A product (goods, services and social products) has a life of its own and goes through cycles. It is associated with changes in the market situation, thus impacting the marketing strategy and marketing mix (pricing, promotion, etc.) (see http://www.quickmba.com/marketing/product/lifecycle/). Although different products have different types of life cycles, the traditional product life cycle for most products is shown in Figure 1 (attached). When a healthcare organization is considering entering an industry and making a product, knowing where the product is in its life cycle can provide valuable information of how to position your product in the market in terms of price, promotion and distribution. This is the link with pricing. Pricing, promotion and distribution change alongside the product life cycle. ...
Purchase this Solution
Free BrainMass Quizzes
Operations Management
This quiz tests a student's knowledge about Operations Management
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.