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Business (Marketing (Pricing strategies (Destroyer (Destroyer pricing is…

- - - - Broken down:
        
        Growth
        
        In the growth stage of the product life cycle, the market has accepted the product and sales begin to increase
        
        Maturity
        
        In the maturity stage of the product life cycle, sales will reach their peak.
        
        Introduction
        
        The introduction stage of the product life cycle is where a new product is launched into a market.
        
        Decline
        
        In the decline stage of the product life cycle, sales will begin to decline as the product reaches its saturation point.
  - - - Generates new customers
      - Supports advertising
      - Recognition
  - - - Destroyer pricing is an illegal practice where firms lower their prices to such a damaging level that they run at a loss.
    - - A business strategy in which a business offers a product or service at a price that is not profitable for the sake of offering another product/service at a greater profit or to attract new customers. This is a common practice when a business first enters a market; a loss leader introduces new customers to a service or product in the hope of building a customer base and securing future recurring revenue.
        Attract people into buying other products
    - - An approach under which a producer sets a high price for a new high-end product or a uniquely differentiated technical product (such as one-of-a-kind software or a very advanced computer). After that is accomplished, the producer can lower the price drastically to capture the low-end buyers
        HIGH SHORT PRICE TO LOW PRICE
    - - relating to the publicizing of a product, organization, or venture so as to increase sales or public awareness.
    - - A competitive market is one in which a large numbers of producers competitive with each other to satisfy the wants and needs of a large number of consumers.
        Charge same price as competitors for the product
    - - Charging a low price to get high market share. Usually done by a firm entering a new market
    - - relating to or denoting a method of pricing a service or product in which a fixed profit factor is added to the costs.
        Work out average cost per unit and add a profit margin
  - - - These include conventional media as we know it, television and radio advertising, print as well as internet.
    - - Types of below-the-line advertising commonly include direct mail campaigns, trade shows and catalogs, and targeted search engine marketing.
- - - - Examples include:
        High street shops
        Warehouse
        Online
        Festivals
        Stool on high street (Sell fragrance here)
        Local market
        Car boot sales
- - - - Strong Pound Imports Cheaper Exports Dearer
- - - - Consumer: a person who buys goods or services for their own use
  - - - Wholesaler: Selling the product in large quantities to business personnel.
        
        Retailer: A business that sells its products to the public
        
        Consumer: a person who buys goods or services for their own use.