Product life cycle

A intersection point look cycle deals with the life of a product in the food commercialize, with respect to the chore costs and sales. A product goes through three tips in the design cycle and these dos atomic number 18 introduction, maturity and decline. The first pointedness is the introduction grade and in this stage, the product created and is promoted to create awareness as sales turn out be low until customers become aware of the product and its benefits. The darkened goal of this stage is to establish a food market and pass water a primary demand for the product class. The introduction stage has implications on the marketing mix, which refer to the Product, Pricing, Distribution and Promotion. In this stage the Product is branded and quality level is established. Intellectual role and protection such as patents and trademarks are obtained. Pricing whitethorn also be penetrated if the product is new in the market and the cost would be low to build market contribution rapidly. High skimming pricing may also be done to recover development costs. The Distribution is selective and crushed till the consumers show acceptance of the product. The Promotion is aimed at facet brand awareness and loyalty. The introductory promotion is also ring to convince potential resellers to motorcarry the product. It helps to educate potential consumers adept the product.

The Maturity stage is the second stage. It is the some net incomeable and car park stage for all markets. It is in this stage that controversy is most intense as companies fight to maintain their market share . Here, both(prenominal) marketing and fina! nce become key activities. Marketing slip by has to be monitored carefully, since any significant moves are likely to be copied by competitors. The Maturity Stage is the time when most sugar is earned by the market as a whole. both expenditure on... If you want to get a full essay, clubhouse it on our website: OrderCustomPaper.com

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