Stages of Product Life Cycle:
1. Development Stage: A time of no sales revenue, negative cash flow, and high risk.
2. Introduction Stage: A time of rising customer awareness, extensive marketing expenditures, and rapidly increasing sales revenue.
3. Growth Stage: A time of rapidly increasing sales revenue, rising profits, market expansion, and increasing numbers of competitors.
4. Maturity Stage: A time of sales and profit plateaus, a shift from customer acquisition to customer retention, and strategies aimed at holding or stealing market share.
5. Decline Stage: A time of persistent sales and profit decreases, attempts to postpone the decline, or strategies aimed at harvesting or divesting the product
Learn More :
MGNT
- What are the main reasons that companies pay attention to pricing?
- What is transfer pricing?
- What do we mean by prestige pricing?
- What do we mean by repositioning strategy?
- What is the connection of social responsibility and marketing performance?
- Why is the connection of marketing ethics and leadership so important?
- What are some of the key considerations in developing a code of conduct?
- What is the role of a code of conduct for a company?
- Deceptive practices in marketing are ?
- What is the role of the top management in creating an ethical environment in a company?
- What do we mean by "enlightened self-interest"?
- What is the relationship of marketing ethics and strategy?
- What is Sustainability ?
- What do we mean by repositioning?
- What do we mean by market positioning?
- What is branding strategy?
- What are some of the advantages and disadvantages of loyalty programs?
- What are some of the advantages and disadvantages of samples?
- What are some of the advantages and disadvantages of rebates?
- What are some of the advantages and disadvantages of coupons?
- What do we mean by recruiting and training salespeople?
- What do we mean by determining sales force size?
- What do we mean by developing sales force objectives?
- What do we mean by sales management?