Question

What is A Product Life Cycle? HOW IS PRICING FACTORED INTO THE PRODUCT LIFE CYCLE? GIVE YOUR ANSWER WITH REAL LIFE EXAMPLES

WRITE AN ESSAY OF 250 - 300 WORDS

Answer 1

to write an essay there should be in a properly structured format as given below-

1. introduction- explain product life cycle which can be defined as the progression of an item through the four stages of its time on the market.

2. body- write about the different stages in product cycle that are - introduction, growth, maturity and decline. then describe how each stage affects the pricing of the product. like during growth prices can high to enjoy profits as it has already created consumer base but during the decline, the product might have discount so that it can attract buyers.

3.conclusion- conclude with a real-life example of saying any model of Maruti or smart-phone by Samsung.