Chapter 12 Developing and Pricing Products

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Learning Objectives

After reading this chapter, you should be able to:

  1. 12-1 Explain the definition of a product as a value package and classify goods and services.

  2. 12-2 Describe the new product development process.

  3. 12-3 Describe the stages of the product life cycle (PLC) and methods for extending a product’s life.

  4. 12-4 Identify the various pricing objectives that govern pricing decisions and describe the price-setting tools used in making ...

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