1) Biggest surprise in the reading, stood out from expectations - I was surprised and alarmed when reading about the changing priorities and purchases in the family life cycle. It was interested to see how accurately they depicted this in the chart of the various stages. Kinda of eye opening for me though as it makes life seem very robotic and systematic.
2) Confusing part of the reading - The part on psychological factors affecting the pricing decision confused me as I didn't normally think the quality of a product is determined according to the level of the items price. I usually judge a product on itself not what people value it to be worth. However I do understand this phenomenon in the case of expensive art - looks valueless to me but people think its nice solely because it is expensive.
3) 2 Questions to the author:
What similarities do you see between family life cycles and product life cycles?
What do you think is the most effective pricing strategy for a company looking to get high returns in a short time frame - hit it and quit it type business.
Why? I think both of these questions are very relevant to the material covered in this chapter and I think they would give some good personal insight from the author.
4) Author wrong about anything - I think in some regards the author was wrong about the psychological factors affecting the pricing decision.
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