Right, you’ve got the product right; the next stage is to price it. Wow what a task!
1. List the factors LM Ltd will have to take into account while deciding how to price the product.
2. What combination of pricing strategies could LM Ltd consider?
3. Work out a pricing strategy as the product moves through the four stages of the product life cycle. Plot how your pricing strategy may change at it moves through the product lifecycle.
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Principles of Marketing by Philip Kotler
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