What is Product Life Cycle Pricing? Definition, Strategies, and Importance
Quick Summary Product life cycle pricing adjusts prices across a product’s stages: introduction (high prices or penetration pricing), growth (competitive/psychological pricing), maturity (value-based pricing), and decline (liquidation/harvesting). This strategy aligns pricing with market demand, competition, and product evolution to maximize profits and brand positioning. Understanding consumer behavior and strategic planning are key to optimizing pricing … Read more