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प्रश्न
Explain the strategies to be adopted during the introduction stage of Product Life Cycle.
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उत्तर
The following strategies may be employed to introduce the product successfully:
- Proper advertisement and publicity of the product, e.g., a money-back guarantee, may be offered to persuade people to try the product.
- Attractive gifts to customers as an 'introductory offer'.
- Selective distribution and attractive discounts to dealers.
- Removing technical and other deficiencies in the product.
- Skimming the cream pricing policy, i.e., higher price to recover heavy promotional costs during the initial period.
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संबंधित प्रश्न
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- Explain the stage of the Company's Product Life Cycle mentioned in the paragraph with the help of a diagram.
- Name the service to be offered by the Company in the next phase. Explain any two characteristics of Services.
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Explain the first two stages of product life cycle.
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