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The four Ps (Factors determining price decision (cost, competitive…
The four Ps
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Price
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intro
skimming high, penetration low
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Extension strategies
strategy
- Adding features to the original product
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benefits
- developed & marketed quickly, low price
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- lower-income consumers can afford, target different market segments
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limitations
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- consumer may not buy into a slightly revised product
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- impact on long-term image
- product & promotion redesigned
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