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  • Product Life Cycle: I) II) Iii) IV)

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    Deborah Jacob
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    The document discusses the four stages of a product's life cycle: introduction, growth, maturity, and decline. During the introduction stage, marketing strategies focus on creating awareness and trial of the basic product through selective distribution and advertising. In the growth stage, strategies aim to maximize market share through product extensions, penetrating pricing, and intensive distribution and advertising. The maturity stage focuses on maximizing profits while defending market share through brand and model diversification, competitive pricing, and emphasizing brand differences. Finally, the decline stage strategies center around reducing expenditures and profiting from the brand through phasing out weak products and unprofitable outlets.

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    Product Life Cycle

    Original Title

    Product Life Cycle

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    The document discusses the four stages of a product's life cycle: introduction, growth, maturity, and decline. During the introduction stage, marketing strategies focus on creating awareness and trial of the basic product through selective distribution and advertising. In the growth stage, strategies aim to maximize market share through product extensions, penetrating pricing, and intensive distribution and advertising. The maturity stage focuses on maximizing profits while defending market share through brand and model diversification, competitive pricing, and emphasizing brand differences. Finally, the decline stage strategies center around reducing expenditures and profiting from the brand through phasing out weak products and unprofitable outlets.

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    © All Rights Reserved
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    3 views5 pages

    Product Life Cycle: I) II) Iii) IV)

    Uploaded by

    Deborah Jacob
    The document discusses the four stages of a product's life cycle: introduction, growth, maturity, and decline. During the introduction stage, marketing strategies focus on creating awareness and trial of the basic product through selective distribution and advertising. In the growth stage, strategies aim to maximize market share through product extensions, penetrating pricing, and intensive distribution and advertising. The maturity stage focuses on maximizing profits while defending market share through brand and model diversification, competitive pricing, and emphasizing brand differences. Finally, the decline stage strategies center around reducing expenditures and profiting from the brand through phasing out weak products and unprofitable outlets.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
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    of 5

    Product Life cycle

    I) INTRODUCTION
    II) GROWTH
    III)MATURITY
    IV)DECLINE
    INTRODUCTION

    Marketing Objectives: Create product


    awareness and trial.
    Strategies
    PRODUCT: offer a basic product
    PRICE: charge cost-plus
    DISTRIBUTION: selective
    ADVERTISING: build product awareness among early
    adopters and dealers.
    SALES PROMOTION: use heavy sales promotion to
    encourage trial
    GROWTH

    Marketing Objectives: Maximize market


    share.
    Strategies
    PRODUCT: offer product extensions, service warranty
    PRICE: to penetrate market
    DISTRIBUTION: intensive
    ADVERTISING:. build awareness and interest in mass
    market
    SALES PROMOTION: reduce to take advantage of heavy
    consumer demand
    MATURITY

    Marketing Objectives: Maximize profit while


    defending market share
    Strategies
    PRODUCT: diversify brands and item models

    PRICE: to match/beat competition

    DISTRIBUTION: more intensive

    ADVERTISING: stress brand differences and


    benefits.
    SALES PROMOTION: increase to encourage brand

    switching in our favour


    DECLINE

    Marketing Objectives: Reduce expenditure and milk


    the brand
    Strategies
    PRODUCT: phase out weak

    PRICE: cut price

    DISTRIBUTION: selective-phase out unprofitable

    outlets
    ADVERTISING: reduce to level needed to retain
    hard-core loyals.
    SALES PROMOTION: reduce to minimal levels

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