Briefly explain each step in the PLC. Why might ad expenditures be high for products in the introductory stage of the PLC?
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Briefly explain each step in the PLC. Why might ad expenditures be high for products in the introductory stage of the PLC?
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1. Each product will have a life cycle (PLC), although its exact shape and length is not known in advance.
Briefly explain each step in the PLC. Why might ad expenditures be high for products in the introductory stage of the PLC?
2. Marketers can recycle many products that are in the maturity or decline stages of the PLC, even moving them back into the growth stage. How is this done? Give an example of a product for which this was done.
3. Compare and contrast Pure Competition, Monopolistic Competition, Oligopoly, and Pure Monopoly, giving examples of each. How does price-setting behavior differ for each?
4. Define elasticity of demand, citing the effect elasticity has on pricing for firms. If demand for a product increases by 4 percent when price is decreased 2 percent, is this an elastic or inelastic response?
5. What are the five key functions that members of the marketing channel perform to complete transactions and to help fulfill the completed transaction?
