Saturday, December 28, 2019

Csr And Product Lifecycle And Its Components Essay

CSR is a very relevant and important piece of any company’s marketing equation. In the past, it was not even a consideration but with the education and affluence of today’s consumer, a company must address CSR on some level if it expects to be successful in the future. When looking at CSR, the product lifecycle and its components are more relevant than ever before. An organizations true commitment to follow through on CSR and product lifecycle can truly affect the company’s success and reputation. Some consumer might be swayed by product certification logos as they represent corporate CSR and can instill brand trust to certain consumers. As today’s consumer and marketplace is demanding and knowledgeable; an organization is wise to listen as they speak with their wallets and step up its CSR program. Product Lifecycle and Lifecycle Pricing Pricing is an important aspect in examining the stages of the product lifecycle: raw materials extraction, materials processing, product manufacturing, wholesale and retail outlets, purchasing and consumers and product waste and recycling. Lifecycle pricing exist to bring to light all aspects of the product’s lifecycle and the true price/cost it incurs. Lifecycle cost can be defined as â€Å"the total estimated cost to be incurred in the design, development, production, operation, maintenance, support, and final disposition of a major system over its anticipated useful life span†. (Hassn, Zaina, 2014) There is much to be studied here inShow MoreRelatedConsumer Confidence : Product Lifecycle Pricing1542 Words   |  7 PagesConsumer Confidence in CSR Brands Product lifecycle pricing provides the firm a systematic way of understanding the true price of a product, including externalities, in their product creation process. 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