Product Life Cycle

Introduction Stage
During the introduction stage, the primary goal is to establish a market and build primary acquire for the product class.
* harvest-feast- superstar product
* equipment casualty- Generally high. In some cases a penetration set strategy is used and introductory prices are set let out to gain market share rapidly.
* scattering - Distribution is selective and scattered as the firm commences implementation of the distribution plan.
* furtherance - Promotion is aimed at building brand awareness. Samples or trial incentives may be directed toward early adopters. The introductory advance also is intended to convince potential resellers to carry the product.
harvest Stage
During the growth stage, the goal is to gain consumer preference and increase sales. The selling mix may be modified as follows:
* Product - New product features and packaging options; improvement of product quality.
* Price - Maintained at a high level if demand is high, or reduced to capture additional customers.
* Distribution - Distribution becomes more intensive. Trade discounts are minimal if resellers show a strong interest in the product.
* Promotion - Increased advert to build brand preference.




Dec bill Stage
During the decline phase, the company in general has three options:
* Maintain the product in hopes that competitors will exit. concentrate costs and find new uses for the product.
* Harvest it, reducing merchandising support and coasting along until no more return great deal be made.
* Discontinue the product when no more profit can be made or there is a successor product.
The marketing mix may be modified as follows:
* Product - The number of products in the product line may be reduced. Rejuvenate surviving products to make them come out new again. In this case there is only unmatched product.
* Price - The price may be lowered to compensate inventory of any discontinued product. The may be maintained for continued products serving a niche market.
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