Pricing models

Critically evaluate the appropriateness of businesses adopting these at each stage of the PLC, giving real examples of prices of products/services from businesses.

Setting the price of a product or service is a crucial part of the marketing strategy adopted by a business. Businesses can adopt several pricing models depending on the type of business, how the market operates and where the product is positioned in the market. The product life cycle (PLC) can be used by business […]

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