The Marketing Strategy to Pursue at Various Stages of the PLC

Product Life Cycle
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Shubhi Kotiya
CxO / Board, Germany
The PLC curve is divided into 4 stages: Introduction, Growth, Maturity and Decline. The suggested logical strategies at each of the stages are: INTRODUCTION ⇨ CREATE THE MARKET SHARE. In terms of the marketing mix: differentiated product, cost-plus pricing, selective distribution, building product awareness amongst early adopter and dealers and use heavy sales promotional advertising, sampling to entice trials. More on Marketing Strategies in Introduction Stage of PLC GROWTH ⇨ EXPAND/GROW THE MARKET SHARE. In terms of the marketing mix: Offer product extensions and services, price to penetrate market, build intensive distribution, build awareness and interest in the mass market, promotional spends can be reduced as there will be higher consumer demand. More on Market Leader Strategies in the Growth Stage of the Product Life Cycle MATURITY ⇨ CONSOLIDATE THE MARKET SHARE AND ENCOURAGE CONVERSIONS. In terms of the marketing mix: diversify brand, price to match t (...) Read more? Sign up for free

 

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Summary
Forum
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Comparing the Product Life Cycle and the BCG Matrix
The Marketing Strategy to Pursue at Various Stages of the PLC
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Effect of Moment of Introduction on Product Life Cycle?
Pricing Strategy as per Product Life Cycle Stage
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🔥The Impact of Short Term Investing / Financing on New Product Development
How to Avoid the Decline Stage of the PLC?
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The Element of Time in Product Life Cycle
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Why Could a Product in its Decline Stage Still Be Attractive for a Firm?
Generic and Specific Product Life Cycle Measures
How to Revitalize your Product when it is Matured and Starts to Decline?
References of PLC Gates Wanted
Configuration Management Summary
Importance of the Product Life Cycle for the CEO
Revitalization: Why and When?
Opportunity for Value Engineering in PD?
Real Estate Business, Life Cycle
Best Practices
When is a product successful?
Product Life Cycle versus Ansoff Model
The Product Life Cycle is not always Shaped like a Wave Form!
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