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A Local Ice Cream Shop Has Introduced a New Signature

question 49

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A local ice cream shop has introduced a new signature treat that none of its competitors presently offer. Based on the tenets of the product life cycle, what pricing strategies should this business use for this new treat through the various stages of the PLC?


Definitions:

Pattern Recognition

The process of identifying links or connections between apparently unrelated things or events.

Imagine Possibilities

The process of envisioning potential opportunities, outcomes, or innovative solutions beyond current limitations or situations.

What If

A question that explores potential scenarios or outcomes that could occur under different circumstances.

Designing for Growth

A methodology or approach that focuses on using design thinking and innovation to drive business development and expansion.

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