A intersection point life cycle deals with the life of a product in the food market, with respect to the business 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 stage is the introduction stage and in this stage, the product created and is promoted to create awareness as sales result be low until customers become aware of the product and its benefits. The old goal of this stage is to establish a market and crap 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 billet 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 parting rapidly. High skimming pricing may also be done to recover development costs.
The Distribution is selective and broken till the consumers show acceptance of the product. The Promotion is aimed at expression brand awareness and loyalty. The introductory promotion is also think to convince potential resellers to carry the product. It helps to educate potential consumers near 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 competition is most intense as companies fight to maintain their market share. Here, both(prenominal) marketing and finance become key activities. Marketing fade has to be monitored carefully, since any significant moves are likely to be copied by competitors. The Maturity Stage is the time when most profit is earned by the market as a whole. every expenditure on...
If you want to get a full essay, clubhouse it on our website: OrderessayIf you want to get a full information about our service, visit our page: How it works.
No comments:
Post a Comment