PM 14.3 Sales and profits over the products life from inception to demise.

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PM 14.3 Sales and profits over the products life from inception to demise

SHAPES OF PRODUCT LIFE CYCLE Maturity Cycle Recycle Scalloped Style Fashion Fad

PRODUCT LIFE CYCLE & STRATEGIES Decline Maturity Profit Growth Market share Introduction AwarenessObjectives Phase Out Weak Items Diversify Brand & Models Products Extension Basic Product Cut Price Competitio n Price Penetration Cost Plus Price Phase Out More Intensive Distribution Selective Distribution Place ReduceStress Brand & Differences Build Interest in Mass Market Build Product Awareness Promotion Source: Kotler Ph. Marketing Management Prentice Hall 1994 p 373

PM 16.3 General approaches to pricing CUSTOMER VALUE BASED APPROACH COMPETITION-BASED APPROACH Discremination Pricing Mix Pricing COST-BASED APPROACH Target profit pricing Break-even analysis Cost-plus pricing Ultimate Luxury Middle Convenience Me Too

PM 17.1 New product pricing strategies SETTING A LOW PRICE FOR A NEW PRODUCT TO ATTRACT A LARGE NUMBER OF BUYERS AND GAIN A DOMINANT MARKET SHARE SETTING A HIGH PRICE FOR NEW PRODUCTS TO MAXIMISE REVENUE FROM TARGET MARKET SECTOR MARKET SKIMMING PRICING MARKET PENETRATION PRICING

PM 17.3 Price adjustment strategies PRICE ADJUSTMENT STRATEGIES Value pricing Discriminatory pricing Discount and price allowance Psychological pricing Promotional pricing Geographical pricing International pricing

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