Mark-product life cycles chart.png

Mark-product life cycles chart.png - m mm m Strategy...

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Unformatted text preview: —m— mm. m Strategy Competition Promotion Gain consumer awareness None Inform consumer through heavy advertising and public relations. Samples and demonstrations to encourage trail. Skim pricing (if true innovation) High prices Build the brand name and develop brand loyalty Entrance of early copiers. Persuasive advertising due to increase competition. Competitive pricing to discourage competition. Maintain market share Shakeout of weak brands. Reminder advertising to maintain market share and persuasive advertising to encourage brand switching. Further price decreases. Milk profits or delete product Fewer competitors Minimal advertising if any. Prices decreases even more. ...
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  • Spring '16
  • Lucian Silcox
  • Marketing, Brand, persuasive advertising, Maintain market share

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