Pharmacist and new father Kenneth Kramm wanted his son to take his medicine,but it was a battle.As a result Kramm developed FLAVORx,a liquid medicine-flavouring system that can mask the taste or smell of medicine.FLAVORx tastes of strawberry or grape and has no effect on the medicinal value of the drug to which it is added.It is the first product of its kind.Because Flavorx is in the _____ stage of the product life cycle,the price of the medicine-flavouring system should be _____ than the price that would usually be charged.

Question

Quizplus · Accepted Answer

FLAVORx is in the introductory stage of the product life cycle, where prices are often set higher to recoup development costs and because there is little competition.

Pharmacist and New Father Kenneth Kramm Wanted His Son to Take