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MKT 327 Chapter 11 Notes

MKT 327 Chapter 11 Notes - MKT 327 – Ch 11 Managing...

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Unformatted text preview: MKT 327 – Ch. 11: Managing Successful Products, Services, and Brands 05:14 *Figure 11-1/1B: How stages of the product life cycle relate to a firm’s marketing objectives and marketing mix actions (don’t memorize, but know the general ideas – marketing objective, competition, marketing mix) Introduction – Gain Awareness Growth – Stress Differentiation Maturity – Maintain Brand Loyalty Decline – Harvesting, Deletion At this point some people bail, but can still keep making money, make products last I. Charting the Product Life Cycle A. Introduction Stage Product Life Cycle Primary Demand Selective Demand Skimming Strategy (Skimming Pricing) – coming in at an artificially high price, much easier to come in at a high price and lower than come in at a low price and raise higher; often trying to recover R&D costs Penetration Pricing – can be done in introduction, but more often in growth and maturity...
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MKT 327 Chapter 11 Notes - MKT 327 – Ch 11 Managing...

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