and offers varieties and values in it. It focuses on building betterdistribution network and pushes the product through it. Number of competitors will grow and it forces company to keep a tab on them.iv. Maturity Stage:a.Peak salesb.Low cost per customerc.High profitsd.Competition based pricinge.Communicating the product differentiation to customerf.Improving supply chain efficiencyg.Defend the market shareh.Industry experience the consolidation
Decline Stage : In this stage, product sales and profit decline. Companyshould phase out weak items from their product mix. Theadvertisement budget of the company also comes down.
Other Product Life cycles:
i.Style: A style is a basic and distinctive mode of expression thatappears in the field of human behaviour. For example, styleappears in homes, art and clothing, once the style invented, it willbe there for longer period.ii.Fashion: Currently accepted or popular style in a given field forexample, cargo jeans are now fashion with the college goingstudents.iii.Fad: A fashion that enters quickly is adopted with great zeal, peaksearly, and declines very fast. For example, when the pager wasintroduced, everybody wanted to have the product. But whenpeople find mobile as alternatives, the demand for the productwhen down drastically.
Explain various categories of brand sponsorship with example
.Brand managers have four points of sponsoring the brand. They area.Manufacturer brandb.Private brandc.Licensingd.Co-brandinga. Manufacturer brand:The brand owned by manufacturer and promoted either directly orindirectly. This type of strategy has been followed for many years.