What are the suitable pricing strategies for the introduction level of the product life cycle?
| Answer: When introducing a new product, it is important to set a suitable price. Strategies for the introduction level of the product life cycle include setting a low price to attract customers and increase market share, setting a high price to maximize profits, or setting a mid-range price to balance market share and profits. It is important to consider the competitive landscape when setting prices, as well as the cost of production and the target market. |
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Take 10: A Crash Course in Pricing Strategies
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