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    Products, services, or social products and Pricing

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    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.

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    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. ...

    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.

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