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Setting the Price/Levels of a Product's Life Cycle

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Setting the price
1) Please discuss how a company goes about setting the price for a specific product or service (Price = product + service + profit + image).

Levels of a product's life cycle
2) Discuss the 5 levels of a product's life cycle? Please give one example of a specific product that has followed this cycle.

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Solution Summary

150+ words with references shows how to set a product's price at different stages of its lifecycle.

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1) Pricing depends on the market you are trying to obtain. That's pricing strategies. There are many ways and reasons why organizations choose to price things at different levels, for example economy pricing (want to serve a lower end market), premium ...

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