BUSM 2001 Lecture Notes - Lecture 6: Duracell, Campbell Soup Company, Brand Licensing
4 Mar 2018
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Document Summary
Skimming is a high initial cost for a product in order to make up for high costs to develop the new product. Oftentimes, people will not pay this high price. Penetration is the dropping of this high price, penetration discourages competition. Products often have a life cycle, they are introduced (born), they grow, they mature, and sometimes die. A product matures when the profits of that product plateau. Deletion is when a company gets rid of a product entirely. Harvesting is the reduction of a p(cid:396)odu(cid:272)t"s (cid:272)ost. Product class represents an entire industry (music industry). Product form represents the form in which the product takes shape (cd player iphone, ipod etc. The majority of consumers are either late majority or early majority consumers, meaning they get the product when it is in its earlier or later stages of peak popularity.
