Explore BrainMass
Share

Products, services, or social products and Pricing

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

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.

© BrainMass Inc. brainmass.com October 16, 2018, 9:12 pm ad1c9bdddf
https://brainmass.com/business/the-product-lifecycle/products-services-or-social-products-and-pricing-175724

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. ...

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.

$2.19
Similar Posting

Fundamentals of Marketing

Define "marketing" in your own words based on what you read in the text, web searches, or Library research. Be sure to give credit to the authors of the source(s) for providing you with the knowledge. Continue to add to the definition of marketing by discussing an example of either successful or unsuccessful marketing practices that you found by researching in the Library or on the Internet. Be sure to bring in applications from this week's topics to back up your opinion as to why it was successful.

Define marketing and discuss its core concepts.
Explain how changes in the environment affect marketing decisions.

View Full Posting Details