Product Life Cycle and Price Difference
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Select a product with which you are familiar. What stage is your selected product at in the product life cycle? Provide rationale for your answer. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle?
Select a product or service. Then select two different organizations that provide your selected product or service and compare the prices associated with your selected product or service. What is the difference between the prices among the different organizations? What is the rationale for this difference?
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Solution Summary
The solution provides a detailed answering covering questions about product life cycle (what type of changes will occur, etc.) The expert is also asked to select a product or service, as well as two different organizations which provide them. An explanation is then provided on what the difference between prices are, and what the rationale is for these differences.
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1. I have selected (legal, mainstream) digital movies as my product. This good (which is truly part-good part-service) has only left the development stage within the past week and is currently in the introduction stage. This product is currently only offered by two firms, Apple and Amazon.com, and has not yet experienced wide acceptance. Amazon.com released its version, called Amazon Unboxed, last week without making many headlines. This was 6 days ahead of Apple. Amazon's price dropped with the emergence of its sole competitor; now with prices ranging from $14.87 to $1.99; a sign of gradual movement along the PLC timeline.
However prices are still relatively high, when one takes into account the limitations of the digital movies to their traditional counterparts (having to watch on your computer rather than sitting on the couch and using a big screen TV, for example). As is common in this early-marketing phase, the firms are trying to recover sunk costs before more competition enters the market. While the Product Life Cycle is not etched in stone, I believe this good's ...
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