Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download The Product Lifecycle
Document related concepts
Sales process engineering wikipedia , lookup
Celebrity branding wikipedia , lookup
Advertising management wikipedia , lookup
Bayesian inference in marketing wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Brand loyalty wikipedia , lookup
Brand ambassador wikipedia , lookup
Advertising wikipedia , lookup
Online shopping wikipedia , lookup
First-mover advantage wikipedia , lookup
Youth marketing wikipedia , lookup
Perfect competition wikipedia , lookup
Consumer behaviour wikipedia , lookup
Food marketing wikipedia , lookup
Targeted advertising wikipedia , lookup
Visual merchandising wikipedia , lookup
Market penetration wikipedia , lookup
Global marketing wikipedia , lookup
Green marketing wikipedia , lookup
Emotional branding wikipedia , lookup
Marketing strategy wikipedia , lookup
Neuromarketing wikipedia , lookup
Advertising campaign wikipedia , lookup
Planned obsolescence wikipedia , lookup
Pricing strategies wikipedia , lookup
Supermarket wikipedia , lookup
Product placement wikipedia , lookup
Marketing channel wikipedia , lookup
Sensory branding wikipedia , lookup
Product lifecycle wikipedia , lookup
Transcript
The Product Lifecycle •Most products and services pass through various stages over time. These stages make up a life cycle. •Although the rates of change, and the length and intensity of each stage may vary, most life cycles follow roughly the same pattern. •In the introductory stages the focus is on the product. Later, the focus changes to promotion and price. Why do marketers need to know the product lifecycle? Product Introduction • Often called a “ Launch” • Consumers uninformed • Business info: – – – – Product features Availability Design Brand Identification Intro • 1st Consumers = “early adopters” (trendsetters) • Different products require unique introductory Growth Stage • Followers to early adopters help drive increased sales. • Competition is attracted. • Product or service is managed carefully • Wide advertising & distribution is common Maturity • Flat growth • No increase/decrease in sales • New consumers replace those drawn to competitors • Advertising keeps public aware • “Cash Cows” (no development costs) maturity Decline • Sales decreasing as customers move to new products • Permanent phenomenon • Can be averted or delayed by advertising decline Decision Point • Final stage in product life cycle • Brand Management decision point !! • Reformulate / Repackage • “New & Improved” • New promotion & repricing • GO or NO-GO Decision point Non Traditional Product Life Cycles Fad Niche Seasonal
