MGMT 1 Lecture Notes - Lecture 14: Supply Chain, Reverse Logistics, Mobile Marketing
Document Summary
A metaphor and theoretical model to describe various phases of a product or product class. The product life cycle framework can be provide. Sales and profits during the production life cycle. Growth: when competition comes into the picture, price becomes the most. Introduction: the most important part is promotion important p . Maturity: focus went back to the product because companies will recreate the product (ex. Decline: it is the company"s decision to focus on what they think is important. Next to the quality, the price of a product is arguably the most important aspect of the total product offer. Companies pursue different objectives when it comes to pricing decisions. Create a price that is of value higher than the cost. If it cost me to make a product, i will sell it for to make a profit. Setting the price to what the consumer would pay for the product. Based on what the competition is charging.
