the birth, growth and death of a product

a place for customers to purchase or receive products

1) price 2) product 3) promotion 4) place

the product is released, there are few customers and sales yet because customers still don't know about the product.

to deliver the product to customers

The thing that makes your product special, the best option, different from competitors. The USPs is aimed towards delighting your customer.

it means creating new functions and features to meet customer needs in new and exciting ways. Ex. iPhone 13 5G, Camera Quality

change the product in some way to fight the product life cycle (saturation and decline) by introducing new things

The product has been out for a while, competitors with new offerings are entering the market, customer needs are changing, time for something new.

More customers are learning about the product and sales are increasing

the product has sold to many customers, new customers are hard to find

1) Penetration pricing - lower price than competitors initially, then increase 2) Skimming - take as much from customer initially as possible 3) Loss leader