A profit maximization strategy is used during the growth and maturity stages of the product life cycle.
Answer the following statement true (T) or false (F)
False
A profit maximization strategy involves setting a relatively high price for a period of time after the product launches, which is during the introductory stage of the product life cycle. Over time, the firm often decreases the price to a level designed to be more sustainable over the long term.
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As used in the text, the term services specifically refers to:
a. items having a physical existence and value b. work performed by employees c. work performed by outside vendors d. products normally held for resale
All of the following are types of psychological stress and stress assessments except:
a. threat b. harm/loss c. challenge d. hurt
Which of the following reduces price competition?
a. Increasing the number of competitors. b. Increasing the number of substituting offers. c. Wider distribution of competitor and/or substitution offers. d. High switching costs for consumers. e. Increasing surplus capacity in the industry.
_____ is the process of buying and selling merchandise and services over the Internet
Fill in the blank(s) with correct word