What are the marketing objectives of using the product life cycle?
1. Create product awareness and trial
2. Maximize market share and profit while defending market share
3. Reduce expenditure and milk the brand
Learn More :
Product Decisions for International Markets
- What influences the market resistance towards a new product?
- What are the three major components of a product?
- How are products adapted physically and culturally in foreign markets?
- What are the steps to deciding on a product line when going international?
- What are the different promotional/product strategies available to an international marketer?
- How can different stages of the life cycle of a product influence the standardization/adaptation decision?
- What is the difference between a product and a brand?
- What is the issue of global vs adapted products for the international marketer?