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The positioning and differentiation strategies for this product will be identified. The appropriate price strategy to be used will be described.
Stages of the Product Life Cycles
Product Life Cycle
What is a product life cycle? A product life cycle "describes the stages a really new product idea goes through from beginning to end. The product life cycle is divided into four major stages: (1) market introduction, (2) market growth, (3) market maturity, and (4) sales decline. The product life cycle is concerned with new types (or categories) of products in the market, not just what happens to an individual brand...
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