Pricing strategies usually remain the same as the product passes through its life cycle.

Question

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Pricing strategies often change throughout the product life cycle, as the product may face different levels of competition and consumer demand at different stages. For example, a product may have a high initial price to reflect its novelty and exclusivity, but may then lower the price as competitors enter the market and demand decreases. Alternatively, a product may start with a low price to attract customers and gain market share, but then increase the price as it establishes a reputation and demand grows.

Pricing Strategies Usually Remain the Same as the Product Passes