Which of the following statements about pricing strategies throughout the product life cycle is NOT true?
a. During product decline, prices may also decline until there is only one competitor left in the market.
b. Price increases during the maturity stage are cost initiated instead of demand initiated.
c. The maturity stage often brings about price decreases.
d. Prices stabilize when the product enters the growth stage.
e. With inelastic demand, price will be set low during the introduction stage.
ANSWER: e