PRODUCT LIFE CYCLE PRICING

Question 1

launched
during the Introductory Phase that creates an
entirely new market.

Answer 1

REVOLUTIONARY PRODUCTS

Question 2

• implies that the desire
  for the solution to a problem existed prior to the
  launch of the product but no viable solution
  existed.

Answer 2

LATENT DEMAND

Question 3

constitute the earlier
market. They are the people who
appreciates the product.

Answer 3

TINKERERS

Question 4

constitute most of the
later market. These people seek to deliver
quantum leap in terms of solving a
challenge.

Answer 4

VISIONARIES

Question 5

group of
customers who seek incremental
improvements and appreciate a new
product;

Answer 5

EARLY MAJORITY

Question 6

include customers who would have
preferred and forced by reality to adapt
the product.

Answer 6

LATE MAJORITY AND LAGGARDS

Question 7

demand Growth,
competitor turbulence, and rapid product
evolution are replaced with more predictable
industry dynamics.
During this phase, the pressure to improve
prices shifts the pricing challenge toward
focusing of managing price variances.

Answer 7

MATURE PHASE

Question 8

a company
will slowly exit in the market while
extracting the remaining profit;

Answer 8

HARVEST STRATEGY

Question 9

a
company seek to be the last one serving
the industry.

Answer 9

CONSOLIDATE STRATEGY

Question 10

supported by
companies that can better serve the needs
of a specific market niche that is
anticipated to last.

Answer 10

FOCUS STRATEGY