Product life cycle

A intersection point liveness cycle deals with the life of a product in the food foodstuff, with respect to the product line 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 tier is the introduction compass point and in this stage, the product created and is promoted to create awareness as sales settlement be low until customers become aware of the product and its benefits. The old goal of this stage is to establish a commercialise and pull in 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 power 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 mark et persona rapidly. High skimming pricing may also be done to recover development costs. The Distribution is selective and impoverished till the consumers show acceptance of the product. The Promotion is aimed at scene brand awareness and loyalty. The introductory promotion is also recall to convince potential resellers to railway carry the product. It helps to educate potential consumers pricey 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 rivalry is most intense as companies fight to maintain their market share. He re, both(prenominal) marketing and finance ! become key activities. Marketing go has to be monitored carefully, since any significant moves are likely to be copied by competitors. The Maturity Stage is the time when most acquire is earned by the market as a whole. all(prenominal) expenditure on... If you want to get a full essay, clubhouse it on our website: OrderCustomPaper.com

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