Strategic pricing across the product’s sales cycle: a conceptualization
Establishing the initial price for a new product is one of the most important decisions a firm will make. Implementing and adjusting this price over the sales cycle of the new product are crucial decisions for both its short- and long-term success. A modification of the product life cycle (PLC) conc...
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| Main Author: | |
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| Format: | Article |
| Language: | English |
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LLC "CPC "Business Perspectives"
2017-11-01
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| Series: | Innovative Marketing |
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| Online Access: | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/9339/IM_2017_03_Rink.pdf |
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| Summary: | Establishing the initial price for a new product is one of the most important decisions a firm will make. Implementing and adjusting this price over the sales cycle of the new product are crucial decisions for both its short- and long-term success. A modification of the product life cycle (PLC) concept is presented to reflect one of the many alternative price-setting strategies available to the company. After justifying and illustrating the modified PLC pricing strategy, applications and limitations are presented and discussed. |
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| ISSN: | 1814-2427 1816-6326 |