BUST08003 Principles of Finance Basic Methods and Implementation

BUST08003 Principles of Finance Basic Methods and Implementation

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BUST08003 Principles of Finance

Task:

Assinment Task

Explain Each Stage of the Product Life Cycle

With reference to FOUR 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 managers to determine prices according to the stage of the PLC. You are required to link your discussions on each pricing model in relation to the stage of the PLC. Is required:

Report Structure

Clear introduction setting the context Communication and logical flow to the discussion

TASK  a) Clear explanation of the Product Life Cycle with use of diagram

TASK  b) Clear analysis of each pricing model at the appropriate stage of the Product Life Cycle:  

Definition of Each Pricing Model

Evaluate appropriateness to the stage of the PLC. Advantages and disadvantages of each pricing model. Provide numerical illustrations with real examples of businesses from different sectors. Application of related concepts such as price elasticity, market and environment conditions,  and type of industry. Use of appropriate academic references to support discussions.  Consider the quality and range of references (at least 15 references across different sources are expected). The currency of the data (how recent is the data) is required. 

BUST08003 Principles of Finance

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