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MB0030 MM Complete

MB0030 MM Complete

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Published by arpit vora

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Categories:Types, Research
Published by: arpit vora on May 16, 2010
Copyright:Attribution Non-commercial


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NameG M Firoz KhanRoll No.520931217ProgramMBASubjectMarketing Management[Set 2]CodeMB 0030LearningCentreSystems Domain –Indira Nagar,Bangalore [2779]
Set 2MB0030
1.Write a short note on “Product Life Cycle”
The product which is introduced into the market will undergo somemodifications over the period. Its sales also fluctuate. Therefore marketeris interested in finding out how sales also fluctuate over a period andwhat strategies are best suited at that point. A product life cycle can begraphed by plotting aggregate sales volume for a product category overtime. Generally the curve resembles bell shaped curve but it is not theonly one type of curve. We can obtain style, fashion or fad style of product life cycles also.Product life Cycle (Bell shaped curve)According to this type of cycle, a product passes through 5 stages:
Product development stage: In this stage company identifies the viableidea and develops it. Sales in this stage are zero but huge researchand development budget is required. Therefore company incurs lossesat this stage.
Introduction Stage: Company introduces the product into the market.As the product is new to the market, awareness is usually very low.Here company adopts heavy sales promotion and product awarenessprograms. The cost of product is very high and sales are very low. Atthis junction the company charges high price to the customer.
Growth Stage: Company gets experience over the period and now triesto get the maximum market share; sales will grow rapidly resulting inlesser cost and better profit. Company reduces the price of the product
Set 2MB0030
Sales & ProfitsProfitsSalesLosses -Investments
TimeProduct Dev.Stage
Product Dev.Stage
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.
Set 2MB0030

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